Arkema has gained 4%, making it one of the best performers on the SBF120, boosted by a recommendation upgrade by UBS from 'neutral' to 'buy' on the chemical group's shares, with a price target raised from €95 to €120.

The broker highlights a recovery in EBITDA and a conversion of around 50% in free cash flow. The FCF yield of 13% p.a. is the highest in the European diversified sub-sector", it also points out in the summary of its note.

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