Tessenderlo: Kepler upgrades to 'buy' on positive demand trends

Tessenderlo NV

03/12/2020 09:14

** Kepler Cheuvreux upgrades Tessenderlo  TESB.BR  to "buy"
from "hold", as it sees the Belgian chemicals group benefiting
from positive demand trends across its production segments
    ** Brokerage says TESB's agricultural arm will get a boost
from improved crop prices, as farmers spend more on fertilisers,
while its main product, sulphate of potash, trades at a
"significant premium" to standard potash prices
    ** Sees the company's chemicals division benefiting from
improving industrial demand in China, EU and North America, as
GDP growth increases demand for PVC plastics
    ** Stock is trading below its long-term historical average,
see an upside - Kepler
    ** Out of the five analysts that cover TESB, four rate
"strong buy" or "buy", and one "hold", according to Refinitiv
data

 ((antonis.pothitos@thomsonreuters.com))