Goldman Sachs Downgrades W.R. Grace & Co. (GRA) to Buy

Goldman Sachs downgraded W.R. Grace & Co. (NYSE: GRA) from Conviction Buy to Buy.

Analyst Brian Maguire said, "We are removing GRA from the Americas Conviction List; however, we reiterate our Buy rating. Since added to the list on 5/29/13, GRA has risen 15.4% vs. 15.3% for the S&P 500. Earlier this year, GRA emerged from over a decade in Chapter 11 bankruptcy and began optimizing its balance sheet with a share repurchase program. GRA also hosted its first investor day in over a decade. With these catalysts now behind it, and with cautious comments on 2Q earnings, we believe that it will now take until 3Q2014 results for investors to regain confidence that GRA can post the second-half earnings pick-up implied by guidance and consensus estimates."

For an analyst ratings summary and ratings history on W.R. Grace & Co. click here. For more ratings news on W.R. Grace & Co. click here.

Shares of W.R. Grace & Co. closed at $92.38 yesterday.

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