Arkema upgraded to Buy from Hold at Berenberg

Berenberg upgraded Arkema (ARKAY) to Buy from Hold with a price target of EUR 102, up from EUR 94. The firm’s survey of 150 buyers of engineering polymers suggests a threat from China for some specialty plastics, which may prove problematic for pricing across the polymer space, potentially leading to European manufacturers making compromises in terms of shutting capacity or taking a smaller part of the market, the analyst tells investors in a research note. The firm downgraded Syensqo to Hold saying it may prove challenging to protect pricing, and upgraded Arkema to Buy, whose portfolio it view sas better insulated from this threat.