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Umicore upgraded to Neutral from Sell at Goldman Sachs

Umicore upgraded to Neutral from Sell at Goldman Sachs

Goldman Sachs analyst Georgina Fraser upgraded Umicore (UMICY) to Neutral from Sell with a EUR 9.20 price target Goldman noted that after “42 months of negative consensus revisions and share price de-rating,” the firm sees no reason for further downwards adjustments to estimates for Umicore, and furthermore, the firm now sees sources of potential upside – including E.U. policy support, strategic pivot potential, more persistent Catalysis strength, and E.U. defense spending.

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