Umicore upgraded to Equal Weight from Underweight at Barclays

Barclays upgraded Umicore to Equal Weight from Underweight with a price target of EUR 29, down from EUR 31. The firm says a new analysis on future electric vehicle battery technology suggests further improvement in energy density will likely come more from the anode, electrolyte and pack design than the cathode. It upgraded Umicore on the analyst and the recent de-rating of the shares.