KBC cuts Recticel on valuation

Recticel SA

01/04/2022 10:55

** KBC cuts Recticel  RECT.BR  to "hold" from "accumulate"
citing the Belgian plastics company's strong share performance 
    ** KBC says the stock has now reached its target price of 21
euros, leading to a downgrade
    ** "We see room for further acquisitions with potentially
also some capital return to shareholders, and remind as well
that Recticel has recently expressed ambition to double its
Insulation business by 2025," the brokerage notes
    ** Recticel shares were down 3.5% as of 0942 GMT
    ** Out of three analysts covering the stock, two rate it
"buy" and one rates it "accumulate"

 (Reporting by Augustin Turpin)
 ((Augustin.turpin@thomsonreuters.com))