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Bank cuts Poland’s Grupa Azoty to ‘hold’ on chem, ferts prospects

LONDON (ICIS)--Raiffeisen Centrobank (RCB) on Wednesday cut its recommendation on the stock of newly consolidated Polish chemical group Grupa Azoty from a ‘buy’ rating to ‘hold’, citing a lack of expected improvement in chemical and fertilizer markets.

"The company may focus on synergies execution and selected acquisitions, which should gradually improve its financial results, but we already find the current valuation fair,” said Dominik Niszcz, an analyst at RCB.

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