Goldman Sachs maintains Neutral on Element Solutions, raises PT to $27.

Goldman Sachs maintains Neutral on Element Solutions, raises PT to $27.

Goldman Sachs has maintained its Neutral rating on Element Solutions (ESI), while raising its price target to $27.00. The investment bank's analyst, Duffy Fischer, reiterated the Neutral rating on July 29, 2024, and adjusted the price target from $30.00 to $27.00 [1].

The revised price target represents a 10.34% downside from the current stock price of $24.47. This adjustment comes amidst a strong consensus of Buy ratings from other analysts, with 8 out of 8 ratings in the past three months being Buy [2].

The analysts' average 12-month price target for ESI is $28.17, with a high forecast of $31.00 and a low forecast of $24.00. The average price target represents a 15.12% upside from the current stock price [2].

Despite the Neutral rating, Goldman Sachs' analysts acknowledge ESI's robust fundamentals and positive market outlook, particularly driven by growth in the electronics segment and strategic corporate events. However, they also highlight potential overextension in technical indicators, which may warrant a cautious approach [1].

References:
[1] https://www.tipranks.com/stocks/esi/forecast
[2] https://www.tipranks.com/stocks/esi/forecast