The analyst believes that the new portfolio will boost EBITDA and ROCE improvement.

UBS remains Buy on the stock and adjusts its price target to 15 Swiss francs (from 16 Swiss francs), which represents a potential upside of 37%.

' ROCE, earnings and FCF improve from fiscal 2024E onwards. Share price and multiples at decade lows therefore represent an attractive entry point' says the analyst firm.

Clariant expects low single-digit sales growth in local currency in 2024. Reported EBITDA margin should improve to around 15%, and cost savings from restructuring programs should yield CHF 25 million in 2024, the chemical industry company estimated.

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