AkzoNobel downgraded to Hold from Buy at Jefferies

Jefferies analyst Chris Counihan downgraded AkzoNobel (AKZOY) to Hold from Buy with a price target of EUR 61, down from EUR 68. The firm cites the lack of EBIT improvement from the underlying business ex-cost reductions, and the lack of meaningful free cash flow generation in fiscal 2025 beyond dividends for the downgrade.