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Fly News Breaks for July 8, 2019
AKZOY
Jul 8, 2019 | 05:04 EDT
Citi analyst Mubasher Chaudhry downgraded AkzoNobel to Sell from Neutral with a price target of 70 euros after taking over coverage of the name. The company needs to rationalize its global footprint, and its current strategy to achieve 450 basis points of margin expansion is not feasible, Chaudhry tells investors in a research note. The analyst believes AkzoNobel should sell assets that have low market share and profitability.
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