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Prices & Quotes - UK Markets - Croda International (CRDA)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 7,094.00p
Change Today:
-42.00p
Market Cap:
10,112m
Sector:
Chemicals

JPMorgan downgrades Croda on valuation

By Michele Maatouk

Date: Wednesday 11 Nov 2020

LONDON (ShareCast) - (Sharecast News) - JPMorgan Cazenove downgraded its stance on shares of specialty chemicals company Croda International on Wednesday to 'underweight' from 'neutral', pointing to an expensive valuation and already full 2021 consensus.
The bank said there is 15% downside potential even on its upgraded optimistic December 2021 end price target of 5,700p, which has been lifted from 4,250p.

It noted the shares jumped 7% on Tuesday after Croda said it had agreed with US-based Pfizer to supply excipients used in the manufacture of its Covid-19 vaccine candidate.

"These excipients come from Croda's recent acquisition of Avanti Polar Lipids. We estimate the deal to be value neutral as it will likely result in an earn-out payment (up to $75m) to the previous owners of Avanti which should broadly offset the three years' earnings contribution from this vaccine," JPM said.

"Thus, the stock reaction yesterday seems excessive to us. Even including the contribution from the Pfizer Covid-19 vaccine (around 8% earnings per share uplift in 2021E), our 2021E EPS is in line with 2021 Bloomberg consensus as the consensus was already stretched, in our opinion."

JPM said that fundamentally, it likes the company but not the valuation.

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CRDA Market Data

Currency UK Pounds
Price 7,094.00p
Change Today -42.00p
52 Week High 7,230.00p
52 Week Low 5,124.00p
Volume 468,599
Shares Issued 142.54m
Market Cap 10,112m

Performance Indicators

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What The Brokers Say

Strong Buy 7
Buy 0
Neutral 8
Sell 0
Strong Sell 3
Total 18
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

CRDA Dividends

  Latest Previous
  Final Interim
Ex-Div 06-May-21 20-Aug-20
Paid 04-Jun-21 01-Oct-20
Amount 51.50p 39.50p

Trades for 18-Jun-2021

Time Volume / Share Price
16:35 328,693 @ 7,094.00p
16:29 49 @ 7,048.00p
16:29 43 @ 7,044.00p
16:29 43 @ 7,044.00p
16:29 1 @ 7,044.00p

CRDA Key Personnel

Chair Anita Frew