Johnson Matthey upgraded to Neutral from Sell at UBS

UBS analyst Andrew Stott upgraded Johnson Matthey to Neutral from Sell. The analyst recommends focusing on growth European chemicals names going into 2023. Outperformance in the sector will shift to the growth names from fertilizers and industrial gases in the past year, Stott tells investors in a research note. He anticipates the sector "muddles through" in coming six months, with most companies keeping production running at the current pace.