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50GP - Croda International News Story

94p 0.0  0.0%

Basic Materials
Market Cap £n/a
Enterprise Value £n/a
Revenue £n/a
Position in Universe th / 1819

BUZZ-Croda: Liberum says safest bet among UK specialty chemicals, upgrades to buy

Tue 21st April, 2020 12:59pm
** Shares in Croda International  CRDA.L  rise 2% to 4750p,
among biggest gainers on the benchmark  .FTSE  index
    ** Upgrades to "buy" from "hold", raises PT to 5,100p from
4,700p, calls company as safest among peers
    ** Says Croda will be most resilient of UK chemical
companies citing that Croda's profits held up well in the
2007-2009 global financial crisis
    ** Expects Croda's EBIT to fall 8% in 2020 but sees free
cash flow remaining positive
    ** Also notes company's liquidity headroom is significant
and paying proposed 2019 dividend is very manageable
    ** CRDA down 9.1% so far this year, compared with a ~23%
plunge in  .FTSE  index

 (Reporting by Shanima A in Bengaluru)
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