Jefferies Raises Price Target on Cabot Corp. (CBT)

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Jefferies analysts raised their price target on Cabot Corp. (NYSE: CBT) $3 from $50.00 to $53.00 while maintaining a buy rating on the company. They also raised 2012 earnings estimates $0.30 to $3.50 and 2013 estimates $0.20 to $4.00.

Cabot Corporation operates as a global specialty chemicals and performance materials company. They reported solid second quarter results, with favorable pricing, volume, and capacity expansion.

Cabot indicated that conditions are improving in North America and China, but Europe remains challenging. According to Jefferies, risks include feedstocks, end market demand, and regional competition in carbon black.

For an analyst ratings summary and ratings history on Cabot Corp. click here. For more ratings news on Cabot Corp. click here.

Shares of Cabot Corp. closed at $42.60 yesterday, with a 52 week range of $22.45-$44.97.

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