Synthomer (SYNT)

Sector:

Industrial Chemicals

Index:

FTSE Small Cap

180.00p
   
  • Change Today:
      7.20p
  • 52 Week High: 334.00p
  • 52 Week Low: 122.50p
  • Currency: UK Pounds
  • Shares Issued: 163.57m
  • Volume: 560,397
  • Market Cap: £294.42m

Credit Suisse upgrades Synthomer as risks abate

By Iain Gilbert

Date: Wednesday 07 Mar 2018

LONDON (ShareCast) - (ShareCast News) - Credit Suisse upgraded its view of Synthomer and increased the speciality chemical company's target price as it sees negative risks surrounding oversupply and raw material pricing have started to abate.
The Swiss bank upped Synthomer's target price to 460p from 390p as it upgraded the maker of nitrile rubber for surgical gloves to 'neutral' from 'underperform'.

"We credit management for successfully limiting the negative profitability impact of nitrile oversupply and significant raw material price inflation in 2017 - we believe the business is now well positioned for further cost saves in 2018, organic growth in 2019 and potential large-scale M&A," analyst Matthew Hampshire-Waugh said in a research note on Wednesday.

He pointed to Synthomer's more resilient cost base, growth pipeline and integration of bolt-on acquisitions, which increased confidence that the company was "much better positioned to secure and execute on a large deal in the near term".

The FTSE 250 group excess of £200m on the balance sheet may lead it to search for "transformational M&A in adjacent chemistries/specialty chemicals", the analyst predicted, though further M&A was seen as both the biggest positive and negative risk.

"We believe Synthomer is fairly valued at ~10x EBITDA given the more limited downside risks on earning."

As of 1450 GMT, shares had picked up 3.30% to 516.50p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Synthomer Market Data

Currency UK Pounds
Share Price 180.00p
Change Today 7.20p
% Change 4.17 %
52 Week High 334.00p
52 Week Low 122.50p
Volume 560,397
Shares Issued 163.57m
Market Cap £294.42m

Synthomer Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
63.99% above the market average63.99% above the market average63.99% above the market average63.99% above the market average63.99% above the market average
46.67% above the sector average46.67% above the sector average46.67% above the sector average46.67% above the sector average46.67% above the sector average
Price Trend
69.68% below the market average69.68% below the market average69.68% below the market average69.68% below the market average69.68% below the market average
6.67% below the sector average6.67% below the sector average6.67% below the sector average6.67% below the sector average6.67% below the sector average
Income Not Available
Growth
12.71% below the market average12.71% below the market average12.71% below the market average12.71% below the market average12.71% below the market average
33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average

Synthomer Dividends

  Latest Previous
  Interim Final
Ex-Div n/a 01-Jun-22
Paid n/a 05-Jul-22
Amount 0.000p 21.30p

Trades for 31-Oct-2024

Time Volume / Share Price
16:35 69,765 @ 180.00p
16:35 1,935 @ 180.00p
16:35 2,074 @ 180.00p
16:35 441 @ 180.00p
16:35 470 @ 180.00p

Synthomer Key Personnel

CFO Lily Liu

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