The chief analyst has been busy and finished an analysis of Kemira on Saturday 
Kemira’s Q2 report was slightly better than we expected in terms of comparable operating profit. Cost inflation is currently weakening the company’s profitability, but we expect price increases to improve profitability in the coming years and cost pressures to stabilize. We have made minor positive adjustments to our forecasts, but even after these, we consider the stock’s valuation to be quite neutral. Against this backdrop, we reiterate our target price of EUR 17.5 and our reduce recommendation.