Johnson Matthey Share Discussion Threads

[fuji99] 25/3/2020 09:51

Very attractive share price to enter. This is an excellent defensive and diversified chemical to hold for the long term. £30 is easily achievable + the dividend steady income.

[philanderer] 05/3/2020 11:17

BERENBERG CUTS JOHNSON MATTHEY PRICE TARGET TO 3300 (3600) PENCE - 'BUY'

[philanderer] 25/2/2020 13:50

Nice buy from the Chairman :-)

[philanderer] 18/2/2020 13:26

World-first low carbon hydrogen projects in the UK win £13m Government backing

[lurgy] 13/2/2020 15:49

The palladium market deficit widened to over 1 million ounces in 2019, as combined primary and secondary supplies grew only modestly, while auto-catalyst demand surged higher on the back of new [emissions] legislation in China and more stringent testing regimes in Europe,” Johnson Matthey said.

The palladium deficit is likely to deepen in 2020, as an increasing number of Chinese and European vehicles meet China 6 and Euro 6d legislation, respectively,” Johnson Matthey said. “This is expected to drive up global average loadings on gasoline catalysts and could lift world automotive demand above 10 million ounces

..both Europe and China expected to see further increases in average palladium loadings on gasoline cars this year,” said Johnson Matthey

Meanwhile, auto-catalyst demand fell 2% to 2.91 million ounces last year due to lower output of diesel cars and a delay in stricter heavy-vehicle emissions rules in China, Johnson Matthey said

The company said it expects increased loadings of PGMs in heavy-duty trucks in China and India due to stricter emissions rules

[plat hunter] 05/2/2020 19:04

More interesting that JM has been appointed supplier and distributor of hydrogen to the UK's first hydrogen highway (The M4).

[lurgy] 05/2/2020 14:15

this is actually what the article says:

Mr Hyett said one British company that should do well is Johnson Matthey.

The group makes most of its money from catalytic converters, which would be made redundant by electric vehicles, but it has invested heavily in the development and manufacture of battery material for use in electric cars.

[plat hunter] 05/2/2020 12:49

Electric Cars don't have or use Cat Converters though

[philanderer] 04/2/2020 18:24

'The stock market winners and losers of the electric car revolution'

Which stocks will be hit by the Government's commitment to ban the sale of all but electric cars by 2035?


...Mr Hyett said one British company that should do well is Johnson Matthey. The group makes most of its money from catalytic converters

[philanderer] 31/1/2020 10:04

Gloomy forecasts on Chinese auto output.

[philanderer] 30/1/2020 12:26

UK car industry slumps for third straight year as production hits lowest level since 2010

[philanderer] 27/1/2020 13:49

Bang.... downgraded by BOA Merrill from 'buy' to 'underperform'

[philanderer] 23/1/2020 00:14

Bang on support with a 3% yield on an unchanged dividend.

[philanderer] 14/1/2020 09:51

And so it's back to chugging along sideways again. Look back in a couple of weeks ;-)

[philanderer] 13/1/2020 16:17

Three goes at 2990p today :-)

[philanderer] 13/1/2020 10:24

LONDON (BLOOMBERG) - It is five times more costly than gold and shocked investors by reaching US$8,200 per ounce last week.

Rhodium - mainly used in autocatalysts for cars and five times more costly than gold - surged 32 per cent already this month and 225 per cent year on year, touching the highest since 2008. Stricter emissions rules have fuelled a multi-year rally and there's speculation that investors are also jumping in, betting that prices will climb towards a record.

[philanderer] 13/1/2020 09:53

+++ BERNSTEIN RAISES JOHNSON MATTHEY TARGET TO 4100 (4000) PENCE - 'OUTPERFORM' +++

[philanderer] 28/11/2019 18:12

JP Morgan Caz note:

JP Morgan Cazenove has downgraded Johnson Matthey, citing structural growth headwinds ahead for the blue-chip chemicals and technologies group.

Cutting the stock's rating to ‘underweight’ from ‘neutral’, analyst Chetan Udeshi said: "Johnson Matthey has underperformed the sector in each of the past one-year, three-year and five-year timeframes.

"This reflects ongoing structural mid to long-term growth concerns in the key auto catalyst business as well as some disappointments with the recent numbers, especially much weaker free cashflow, rising debt and falling return on invested capital," said JPM, which also cut its price target on the firm from 3,400p to 2,850p.

"We believe the structural growth headwinds will likely become more visible from next year."

Johnson Matthey’s auto catalyst business is responsible for around 65% of group earnings, but growing demand for electric cars - which do not use catalytic converters - is undermining the market.

Udeshi also pointed to the "mounting" cyclical downturn in the truck markets in both the US and EU.

[philanderer] 28/11/2019 10:28

Acquisition puts Johnson Matthey in fast lane of EV development

[philanderer] 28/11/2019 10:12

And another..

Thursday market open..

"...In equity markets, Johnson Matthey was the biggest loser on the FTSE 100 after a downgrade to ‘underweight’ at JPMorgan"

ADVFN Morning Euro Markets Bulletin

TP 2850p cut from 3400p

[philanderer] 27/11/2019 14:00

xd tomorrow morning for the 24.5p dividend


Midday:

"....Johnson Matthey retreated as Liberum cut its earnings outlook and price target."

Sharecast.

(Sharecast News) - Liberum slashed its price target on shares of Johnson Matthey on Wednesday to 3,500p from 4,400p following the company's first-half results earlier this month.
The broker said the results threw up three negative factors, despite the solid earnings before interest and tax result and reaffirmation of full-year EBIT guidance.

Firstly, it noted that net debt ballooned during the half due to rising metals prices and will take 12-18 months to recede through company measures unless platinum group metals reverse.

Secondly, it pointed out that the company guided down second-half expectations for pharma ingredients due to weakness in suboxone API sales.

Thirdly, JMAT confirmed that US truck production is now rolling over.

Liberum lifted its two-year annual net debt forecast by more than £200m and said it was assuming a more cautious backdrop for truck markets, prompting it to cut its earnings per share estimates for March 2020 and 2021 by 7% and 9%, respectively.

Still, the broker said it was "more relaxed" than other analysts and maintained its 'buy' rating due to "upside to fair value" and cautious optimism about a tailwind in Asia average revenue per unit in Clean Air.

[caradog] 27/11/2019 13:51

We've had a slew of reductions in TP:

BARCLAYS CUTS JOHNSON MATTHEY TARGET TO 3330 (3790) PENCE - 'EQUAL WEIGHT'

LIBERUM CUTS JOHNSON MATTHEY PRICE TARGET TO 3500 (4400) PENCE - 'BUY'

BERENBERG CUTS JOHNSON MATTHEY PRICE TARGET TO 3600 (3750) PENCE - 'BUY'

I think a saw a couple of earlier ones that reduced the TP by about £1 a share to around 3500-3600. Even though the Liberum reduction is fairly dramatic, all TPs are substantially higher than the current price. I expect these predictions will all be revised upwards again if JMAT succeeds in living up to the promises in the trading update. We shall see in February.

Broker recommendations are most useful in predicting the past.

[philanderer] 27/11/2019 08:26

27th nov Liberum 'buy' tp 3500p cut from 4400p

[philanderer] 26/11/2019 12:45

Have added a few this morning as well.

[philanderer] 26/11/2019 10:47

Berenberg: Johnson Matthey heading for inflection point


Investors shouldn’t place chemicals company Johnson Matthey (JMAT) in the ‘wait and see’ category as it is heading for an inflection point, says Berenberg.

Analyst Sebastian Bray retained his ‘buy’ recommendation and target price of £36 on the shares, which rose 2.8% to £29.26 yesterday.

The shares have drifted from £32 after last week’s inline earnings sparked fears around working capital and net debt.

‘The temptation for potential investors in Johnson Matthey is to put shares back in the “interesting but let’s wait and see first” category,’ said Bray.

‘The inflection in growth earnings back towards the high single-digit level we forecast for next year suggests it would be premature to abandon hope of momentum accelerating in the next few months.’