Credit Suisse Starts Versum Materials (VSM) at Outperform

October 3, 2016 7:36 AM EDT
Get Alerts VSM Hot Sheet
Price: $23.33 -2.47%

Rating Summary:
    3 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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Credit Suisse initiates coverage on the when issued stock of Versum Materials (NYSE: VSM) with a Outperform rating and a price target of $27.00 following its spin-off from Air Products (NYSE: APD).

Analyst Kieran de Brun commented, "Our positive thesis is predicated upon (1) the sustainability of the current margin profile following a structural evolution of the business resulting in less cyclicality, (2) the ability to pursue accretive M&A due to robust FCF generation, and (3) best-in-class technology that strategically integrates its platform with customers to benefit from secular growth trends in the semiconductor industry (3-D NAND, logic and memory growth, etc.)."

For an analyst ratings summary and ratings history on Versum Materials click here. For more ratings news on Versum Materials click here.

Shares of Versum Materials closed at $22.70 yesterday.

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