UBS analyst Joshua Spector downgraded Univar to Neutral from Buy with an unchanged price target of $37. The stock has outperformed the market by 40% since the October 2022 lows, the analyst tells investors in a research note. The firm believes Univar is "doing many of the right things" to improve its longer term earnings power, but see risks to the near term outlook that could prevent a re-rating of the shares. In addition, Univar shares are pricing in at least some probability the company gets acquired, which after the exit of Brenntag from discussions, "could be more challenging," UBS adds. It sees the risk/reward as balanced at current share levels.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on UNVR:
- Univar Solutions to Expand Central American Presence and Enhance Ingredients and Specialties Offerings with ChemSol Acquisition
- Univar acquires ChemSol Group for undisclosed amount
- Univar Solutions, Marott Graphic Services enter distribution pact in Europe
- Univar Solutions Brazil expands relationship with Dow
- Univar named as distributor for Dow’s acrylic emulsion polymer products
