Baird Upgrades Calgon Carbon Corp. (CCC) to Outperform
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Baird upgraded Calgon Carbon Corp. (NYSE: CCC) from Neutral to Outperform with a price target of $19.00 (from $16.00) as several drivers come together.
Analyst Ben Kallo commented, "We believe 2017 estimates (excluding CECA acquisition) are calibrated correctly, and CCC could exceed expectations with higher-than-expected Mercury, municipal, and industrial market demand. Additionally, we believe the recent IMO ratification of the Ballast Water convention should drive growth in equipment sales for 5-7 years, beginning in 2018. We continue to see increasing interest in water-related names given recent headlines, and believe CCC will attract incremental investors as a water-adjacent play."
Shares of Calgon Carbon Corp. closed at $15.02 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Hot Upgrades, Upgrades
Related EntitiesRobert W Baird, Definitive Agreement, Ben Kallo
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