Syensqo: Deutsche Bank upgrades to buy

(CercleFinance.com) - Deutsche Bank announced on Monday that it had upgraded its recommendation on the share of Belgian chemicals group Syensqo from 'hold' to 'buy'.


Deutsche Bank, which had downgraded its recommendation on the stock in October due to price and automotive market issues, notes that its share price has since fallen by 12%, against a backdrop of economic fears and market volatility.

While Syensqo published better-than-expected third-quarter results, the research firm believes that the share has now become "too cheap", seeing a potential upside of 24% against its unchanged price target of 87 euros.

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