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

Canaccord Genuity lowers target price on Synthomer

By Iain Gilbert

Date: Thursday 01 Dec 2022

LONDON (ShareCast) - (Sharecast News) - Analysts at Canaccord Genuity lowered their target price on specialty chemicals company firm Synthomer from 350.0p to 250.0p on Thursday following the group's capital markets day.
Canaccord Genuity said Synthomer's capital markets day, subsequent covenant relaxation, and movements in commodities, particularly European gas and its consequences on demand, all suggested that the group was facing "a classic inventory drawdown period".

The Canadian bank stated that nitrile - the key driver of profitability in the 2019-22 period - now looked likely to have a further extension to its downturn, contrary to previous expectations, and was predicted to actually see a further decline in contribution in the 2023 trading year.

"Absent disposals, we now forecast debt ratios to be close to covenant levels in the middle of next year, before improving sharply in the second half of the year," said Canaccord, which reiterated its 'buy' rating on the stock.

"Given all this, and the obvious lack of certainty on margins coming out of the downturn, we are updating our forecasts and price target to reflect the weaker outlook. Critically, we do not expect a further equity raise, and as disposal proceeds come in we expect concern for such a raise to materially diminish."













Reporting by Iain Gilbert at Sharecast.com

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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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