J.P. Morgan cuts IMCD to 'underweight' on fading tailwinds

IMCD NV

22/05/2026 08:45

May 22 (Reuters) - ** J.P. Morgan cuts Dutch chemicals distributor IMCD IMCD.AS to "underweight" from "neutral" as near-term sector tailwinds fade

** Broker says recent data suggest benefits linked to the Middle East conflict are lower than expected and losing momentum

** It expects investors to look past potential second-quarter strength as "temporary tailwinds from the Middle East conflict may be fading"

** J.P. Morgan adds a weaker 2H26 and 2027 earnings outlook brings structural challenges into focus, including significant overcapacity in China and rising competition from Asian producers

** The brokerage maintains its PT of €75

** Out of 17 analysts that cover the stock, 12 rate it "strong buy" or "buy,"​ and four rate it "hold" - LSEG data

 (Reporting by Jerome Terroy)

 ((jerome.terroy@thomsonreuters.com))