By Michele Maatouk
Date: Friday 14 Jul 2023
LONDON (ShareCast) - (Sharecast News) - Barclays initiated coverage of Morgan Advanced Materials on Friday with an 'overweight' rating and 365p price target.
"We think improving end-market exposure will drive higher through-cycle growth for MGAM, with the group EBITA margin expanding to mid-teens and a new peak," it said.
The bank noted that focused M&A is on the agenda, but said it also sees scope for a supportive capital return, while longer term further portfolio rationalisation could drive multiple expansion.
Email this article to a friend
or share it with one of these popular networks: