Jefferies Downgrades W.R. Grace & Co. (GRA) to Hold
- Nasdaq hits record; bank earnings validate Wall St. rally
- Intrawest Resorts (SNOW) Exploring a Possible Sale - Reuters
- Alibaba (BABA) Has No Plans to Acquire Rest of Groupon (GRPN) - Source
- Time (TIME) Said to Soon Begin Discussions with Interested Buyers - Bloomberg
- JPMorgan (JPM) Reports Q4 EPS of $1.71
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Jefferies downgraded W.R. Grace & Co. (NYSE: GRA) from Buy to Hold with a price target of $70.00 (from $80.00), citing risks to multiple.
Analyst Laurence Alexander commented, "The recent dip in Grace's relative multiple may not suffice to renew interest, as medium-term risks -- the sharp drop in FCF conversion once the NOLs are exploited, and demand risks for gasoline (and consequently FCC catalysts) -- threaten the multiple further out. Participation in future "risk off/weak $/near-term FCF yield" rallies could be more limited than in 2014-2015. Downgrade to Hold."
Shares of W.R. Grace & Co. closed at $67.01 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- DA Davidson Downgrades Inventure Foods (SNAK) to Neutral, Predicts Company Won't Exist In Current Form Come June 2017
- Harley-Davidson (HOG): Raising Below Market PT - Wedbush
- Activision Blizzard (ATVI): Cutting PT on Call of Duty Weakness - Mizuho
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades
Related EntitiesJefferies & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!