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Barclays upgrades Croda on activist investor, cost cutting plans
['Tue', 'September', 'At Pm Gmt', 'Min Read']
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Investing.com -- Barclays upgraded Croda International to Overweight from Equal Weight, saying activist investor involvement and cost-cutting plans could help turn around the specialty chemicals group after a sharp share price slide in recent years.
Barclays said the entry of activist fund Standard Latitude could mark a “potential turning point,” as it brings pressure for strategic changes, including divestments.
It set a new price target of 3,100 pence, down from 3,600 pence earlier.
The brokerage described the lipid market as likely oversupplied and said the unit could be a target for activist action or value realisation.
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