KBC Securities has raised its price target for DSM from 55.00 to 57.00 euros, with an unchanged Accumulate recommendation. This was reported by analyst Wim Hoste Belgian market researcher Tuesday following the quarterly results of the specialty chemicals company from Heerlen show.
Hoste cited the results for the second quarter DSM slightly better than expected, mainly due to a jump in profits in the Performance Materials division.
The Nutrition division, the largest division within DSM, according to the analyst remains the main challenge. A number of recent negative factors, including lower prices for vitamin E and market developments in America, according to Hoste ensure that the visibility on fundamental improvements in Nutrition restricted
Op Damrak DSM saw a red 0.3 percent higher at 52.66 euros.
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