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RESEARCH ALERT cuts Kemira

Schroder Salomon Smith Barney said in the first week of August that it had downgraded its recommendation for Finland“s chemicals group Kemira to “3H” (neutral, high risk) from “2H” (outperform, high …

Schroder Salomon Smith Barney said in the first week of August that it had downgraded its recommendation for Finland“s chemicals group Kemira to “3H” (neutral, high risk) from “2H” (outperform, high risk) and cut its price target for the stock from eight to Euros 7.5. Kemira previously reported second-quarter results at the lower end of analysts“ expectations. An analysts research note reported that Kemira remained a well-managed, undervalued stock. It was, however unlikely to outperform further until it addressed two major issues: its continued presence in the structurally-challenged nitrogen fertiliser market and its low free-float and liquidity caused by the Finnish Government“s 56% stake.

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