Goldman Sachs upgraded AkzoNobel (AKZOY) to Buy from Neutral with a price target of EUR 75, up from EUR 57. Following 44 months of negative consensus revisions and share price de-rating, the firm expects a trough to be reached during 1H25 and for the company to re-rate around German fiscal reform. Goldman raised its FY25, FY26, and FY27 adjusted EBITDA estimates on a more optimistic European growth and pricing outlook.
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