Croda International PLC (LON:CRDA) was downgraded to ‘hold’ from ‘add’ by Peel Hunt over market uncertainty.
Analysts at the broker kept the 4,200p target price unchanged, commenting the chemicals group has limited visibility, although the order book is in line with normal circumstances.
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All main manufacturing sites are operating, though the India and Singapore locations have implemented restrictions.
Demand has remained solid as customers are focusing on their supplies.
“Raw material supply chains also remain broadly secure, with limitations on the availability of a small number of materials,” analysts commented.
Shares were flat at 4,768p on Thursday late morning.