JPMorgan analyst Chetan Udeshi upgraded Wacker Chemie to Neutral from Underweight with a EUR 104 price target. The analyst sees some "compelling fundamental ideas" in the European chemicals sector for 2023, even if the sector faces "choppy waters." Udeshi made several rating changes, telling investors to focus on stocks with "bottom up fundamental opportunities," along with discrepancies in valuations, even if the timing of any upward turn in the economic backdrop is uncertain.
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