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BUZZ-Johnson Matthey: recovering poise as Citi gets behind stock

Reuters - UK Focus

** Johnson Matthey (LSE: JMAT.L - news) bouncing clear of 7-mth lows hit early last wk as Citi upgrades to "buy" vs "neutral" & hikes TP to 3,600p vs 3,200p (currently trading at 3,221p)

** Stock, up 2.2%, 3rd-top FTSE 100 riser & most actively traded on index

** Broker says current JMAT valuation offers attractive entry point; trading near its long-term avg P/E despite solid earnings potential & sweet spot cycle for its key business: emission catalysts (RM (LSE: RM.L - news) : tricia.wright1.thomsonreuters.com@reuters.net)