UK polymer maker Victrex slips after Jefferies downgrades to 'hold'

Victrex

19/09/2025 09:06

** Shares of UK-based high-performance polymer manufacturer Victrex VCTX.L fall nearly 1.4% to 724p

** Jefferies downgrades stock rating to "hold" from "buy"

** Cuts PT to 650p from 830p, new PT represents an 11.44% downside to the stock's last close

** Brokerage says Victrex is unlikely to grow its profit before tax (PBT) in FY26 because medical product volumes are still weak

** The strong growth in VAR (value-added resellers) is actually hurting margins due to a less favorable product mix, adds Jefferies

** Stock rated "hold" on average; median PT is 880p, per data compiled by LSEG

** As of last close, VCTX is down ~35% this year

 (Reporting by Akriti Shah in Bengaluru)

 ((akriti.shah@thomsonreuters.com))