Solvay downgraded to Sell from Hold at Berenberg

Berenberg analyst Sebastian Bray downgraded Solvay (SLVYY) to Sell from Hold with a price target of EUR 24, down from EUR 28. The firm says import-export data for the Chinese market suggests growing role for large China soda ash projects, which, when combined with soft demand, will weigh on Solvay’s shares.