Agilyx - Initiation of coverage - Completing the plastics cycle
Through its subsidiary Cyclyx, Agilyx is helping resolve a key bottleneck in chemical recycling: access to proper plastic-waste feedstock. This is increasingly understood by the industry, and underpinned by backing from strong industrial partners (ExxonMobil and LyondellBasell), reducing risk and ensuring solid economics for its recycling centres. We initiate coverage with a BUY and NOK40 target price based on five initial recycling centres, but see further upside potential in the event of a favourable market where more facilities are built.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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