On Wednesday, Arkema's share price was one of the biggest decliners on the SBF 120 after Berenberg lowered its recommendation, saying it saw better opportunities elsewhere in the sector.

At 10:20 a.m., the specialty chemicals company's share price was down 0.8%, while the SBF 120 gained 0.2% at the same time. The stock has now lost more than 11% since the start of the year.

In a note published this morning, Berenberg said it had reduced its recommendation to 'hold' from 'buy', while lowering its target price from 120 to 96 euros.

According to the analyst, the stock offers "limited" potential for outperformance in the short term, given that the consensus is for adjusted Ebitda of 1.6 billion euros by 2024, a figure well in line with the Group's forecasts of between 1.5 and 1.7 billion.

Within the sector, the intermediary prefers Syensqo, whose share price is based on a much less ambitious outlook, and which is currently below the market consensus.

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