KeyBanc Maintains a 'Buy' on Lubrizol (LZ); Raises Price target & Estimates
LZ Hot Sheet
Rating Summary:0 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
KeyBanc maintains a 'Buy' on Lubrizol Corporation (NYSE: LZ), raises price target from $53 to $64.
KeyBanc analyst says, "We sense that the momentum continues to grow for Lubrizol (LZ-NYSE) in 2Q09 and will likely be carried over into 2H09 as well; we expect that 2H09 earnings will be stronger than 1H09. Our increased confidence in 2009 is driven by our belief that the price/cost benefit remains favorable in Lubricant Additives and that operational improvements in Advanced Materials are tracking ahead of our previous expectations...As a result of our increased confidence, we are raising our 2Q09 EPS estimate to $1.35 (was $1.30; consensus is $1.20) vs. $1.26 in 2Q08; our 2009 and 2010 EPS estimates now stand at $4.50 (was $4.35; current guidance is $3.95-$4.35; consensus is $4.22) and $4.85 (was $4.75), respectively."
To see more analyst ratings on LZ Click Here.
The Lubrizol Corporation (Lubrizol) is a specialty chemical company that produces and supplies technologies for the global transportation, industrial and consumer markets.
KeyBanc analyst says, "We sense that the momentum continues to grow for Lubrizol (LZ-NYSE) in 2Q09 and will likely be carried over into 2H09 as well; we expect that 2H09 earnings will be stronger than 1H09. Our increased confidence in 2009 is driven by our belief that the price/cost benefit remains favorable in Lubricant Additives and that operational improvements in Advanced Materials are tracking ahead of our previous expectations...As a result of our increased confidence, we are raising our 2Q09 EPS estimate to $1.35 (was $1.30; consensus is $1.20) vs. $1.26 in 2Q08; our 2009 and 2010 EPS estimates now stand at $4.50 (was $4.35; current guidance is $3.95-$4.35; consensus is $4.22) and $4.85 (was $4.75), respectively."
To see more analyst ratings on LZ Click Here.
The Lubrizol Corporation (Lubrizol) is a specialty chemical company that produces and supplies technologies for the global transportation, industrial and consumer markets.
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