Jefferies analyst Vanessa Jeffriess reiterated a Hold rating on Synthomer today and set a price target of p76.00.
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Vanessa Jeffriess has given her Hold rating due to a combination of factors impacting Synthomer’s performance. The company is facing challenging conditions in its end markets, which are hindering its ability to recover earnings effectively. Despite implementing cost-saving measures, the anticipated recovery in earnings remains elusive, and it is unclear when a turnaround might occur.
Furthermore, the downgrade cycle continues to affect Synthomer, and the expected deleveraging has not yet materialized. These ongoing challenges have led to a downward revision in forecasts and a reduction in the price target from 100p to 76p. As a result, the Hold rating is maintained, reflecting the uncertain outlook and the need for further improvements before a more positive recommendation can be made.
In another report released on August 13, TR | OpenAI – 4o also upgraded the stock to a Hold with a p63.00 price target.
Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SYNT in relation to earlier this year.