Jefferies Raises Numbers on Quaker Chemical (KWR) following Q3

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Jefferies raised its price target and estimates on Quaker Chemical Corporation (NYSE: KWR) from $51 to $62 following solid Q3 results. The firm reiterated their Buy rating.

"Quaker delivered a solid Q3 result despite a $0.04 headwind from F/X and choppy end markets," the analyst notes. "Easing raw material pressures should at least partly offset any incremental weakness in demand in 1H13, whereas M&A and market share gains should continue to drive growth over the next few years faster than Quaker's main end markets."

Q4 EPS goes up from $0.66 to $0.74, FY12 goes up from $3.30 to $3.40 and FY13 goes down from $3.95 to $3.80.

For an analyst ratings summary and ratings history on Quaker Chemical Corporation click here. For more ratings news on Quaker Chemical Corporation click here.

Shares of Quaker Chemical Corporation closed at $52.99 yesterday, with a 52 week range of $32.15-$53.74.

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