Jefferies Downgrades W.R. Grace & Co. (GRA) to Hold

November 30, 2016 6:56 AM EST
Get Alerts GRA Hot Sheet
Price: $69.16 +1.54%

Rating Summary:
    7 Buy, 7 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 21 | Down: 36 | New: 11
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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."

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 $67.01 yesterday.

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