Jefferies Starts Nexeo Solutions (NXEO) at Hold
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Jefferies initiates coverage on Nexeo Solutions (NASDAQ: NXEO) with a Hold rating and a price target of $10.00.
Analyst Laurence Alexander, "Nexeo has already set aggressive improvement targets as it makes the transition to being a public company. We forecast $251m in FCF through 2018E, but we believe the operating leverage will more likely be validated in 2H17-2018. Hefty initial leverage (7.8x 2016E EBITDA) suggests a better risk/reward in 1H17 once traction on structural improvements is validated."
Shares of Nexeo Solutions closed at $8.88 yesterday.
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