UBS Remains a Buy on Wacker Chemie AG (WKCMF)

UBS analyst Andrew Stott maintained a Buy rating on Wacker Chemie AG (WKCMFResearch Report) today and set a price target of EUR65.00. The company’s shares closed last Tuesday at $53.10.

Stott commented:

“ZuRICH (dpa-AFX Analyser) – Die Schweizer Grossbank UBS hat das Kursziel fur Wacker Chemie von 90 auf 65 Euro gesenkt, aber die Einstufung auf “Buy” belassen. Wegen erwarteter Belastungen durch die Corona-Krise habe er seine 2020er Umsatz- und Ergebnisprognosen (EPS) fur die europaischen Chemiekonzerne um durchschnittlich 10 beziehungsweise 27 Prozent reduziert, schrieb Analyst Andrew Stott in einer am Donnerstag vorliegenden Branchenstudie. Beim EPS liege er damit rund 14 Prozent unter den durchschnittlichen Analystenschatzungen. Mit einer Nachfrage-Normalisierung im Sektor rechnet er erst im vierten Quartal 2020./edh/bek

Veroffentlichung der Original-Studie: 09.04.2020 / 01:08 / GMT
Erstmalige Weitergabe der Original-Studie: 09.04.2020 / Uhrzeit in Studie nicht angegeben / GMT

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According to TipRanks.com, Stott is ranked #730 out of 6295 analysts.

Wacker Chemie AG has an analyst consensus of Moderate Buy, with a price target consensus of $60.03, which is a 13.1% upside from current levels. In a report issued on April 1, Credit Suisse also upgraded the stock to Buy with a EUR52.00 price target.

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Based on Wacker Chemie AG’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.16 billion and GAAP net loss of $751 million. In comparison, last year the company earned revenue of $1.19 billion and had a net profit of $26.7 million.

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Wacker Chemie AG engages in the manufacture and distribution of chemical products. It operates through the following segments: Silicones, Polymers, Biosolutions, Polysilicons, and Other. The Silicones segment includes silicones and silicone rubber for consumer goods, chemicals, energy and electronics applications, and construction products. The Polymers segment produces dispersions and dispersible polymer powders. The Biosolutions segment fabricates fine chemicals, such as proteins, cyclodextirins, cysteine, and acetate solid resins. The Polysilicon segment consists of hyperpure polysilicon, chlorosilanes, and pyrogenic silicas for the semiconductor and electronics industries. The Others segments comprises of other activities. The company was founded on October 13, 1914 and is headquartered in Munich, Germany.