Synthomer tumbles on Morgan Stanley downgrade
Synthomer
137.20p
16:35 07/01/25
-2.00%
-2.80p
Synthomer tumbled on Monday after Morgan Stanley downgraded the shares to ‘underweight’ from ‘overweight’ and slashed the price target to 400p from 568p.
Chemicals
6,950.89
17:14 07/01/25
-1.22%
-85.82
FTSE 250
19,952.24
17:14 07/01/25
n/a
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FTSE 350
4,528.79
17:14 07/01/25
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FTSE All-Share
4,484.17
16:44 07/01/25
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The bank cited a sharp deterioration in the supply outlook and associated risk of faster-than-expected normalisation in earnings.
"We believe this, combined with volume risks, a management transition and rising leverage, leaves risks skewed to the downside," it said.
At 1000 GMT, the shares were down 8.4% at 435p.