Baird Upgrades Calgon Carbon Corp. (CCC) to Outperform

October 4, 2016 6:25 AM EDT
Get Alerts CCC Hot Sheet
Price: $16.75 --0%

Rating Summary:
    8 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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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."

For an analyst ratings summary and ratings history on Calgon Carbon Corp. click here. For more ratings news on Calgon Carbon Corp. click here.

Shares of Calgon Carbon Corp. closed at $15.02 yesterday.

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