No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - Croda shot to the top of the FTSE 100 on Tuesday after JPMorgan reiterated its 'overweight' rating on the shares and hiked the price target to 4,000p from 3,600p.
The bank said its bullish stance on Croda was based on the fact that the earnings downgrade cycle is behind us and on expectations that sharpening company execution will drive better organic growth from recent significant organic and inorganic growth investments.
JPM also said that market pessimism on fundamentals appears excessive and that improving earnings growth delivery leaves some room for a re-rating.
"We also expect the new mid-term financial framework, to be announced with FY25 results on 24th February, to reassure," it said.
JPM said it has trimmed its FY26/27 estimated adjusted EBIT and adjusted EPS by 1% to reflect the incremental FX headwind, but its estimates remain higher than consensus.
At 1035 GMT, the shares were up 5.8% at 3,095p.
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.