While maintaining its 'neutral' recommendation on AkzoNobel, UBS has lowered its price target from 78 to 74 euros, a new target that leaves a 10% upside potential for the share of the Dutch paint and coatings chemist.

We expect AkzoNobel to achieve organic sales growth of 2% to 3% per year, which will translate into EBITDA growth of around 7% per year in 2024/25", the broker says in his summary note.

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