UBS confirms its buy recommendation on the stock, with an unchanged target price of 16 Swiss francs. This target implies a 25% rise in the share price from its current level.

Clariant announced yesterday the closure of its Romanian bioethanol plant. The analyst believes that the closure of Sunliquid will come at a high cost.

' The cost of closing Sunliquid is expected to be between 110 and 140 million Swiss francs in 2024' stresses UBS.

An additional charge of 110 million Swiss francs, including a provision for impairment of the Podari facilities, will also be taken in the quarterly and annual financial statements. For fiscal year 2024, Clariant estimates the impact of these decisions on its cash position at between CHF 110 and 140 million.

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