Baird Downgrades Chemtura Corporation (CHMT) to Neutral
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Baird downgraded Chemtura Corporation (NYSE: CHMT) from Outperform to Neutral and maintains a price target of $33.
Analyst Ben Kallo commented, "Although CHMT has showed solid margin and earnings expansion, we believe the market is pricing in future execution at current levels, and feel anticipation for a potential merger or sale of the business are high. Additionally, we believe there is sustained risk around clear brine fluid demand which could impact the bromine business, and think expectations of CHMT’s price increase and tailwinds from depressed oil prices are largely priced into the stock."
Shares of Chemtura Corporation closed at $29.78 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Downgrades
Related EntitiesRobert W Baird, Earnings, Definitive Agreement, Ben Kallo
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