UBS has raised its recommendation on AkzoNobel from 'neutral' to 'buy', with a price target raised from €76 to €80, a new target that offers a 27% growth potential for the Dutch chemicals group's stock.

AkzoNobel offers the strongest EBITDA growth in the coatings sub-sector in the USA and Europe", stresses the broker, who also points to a 2024 EV/EBITDA ratio around 20% below its average over the last five years.

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