UBS Cuts Price Target on Platform Specialty Products (PAH) Following Investor Day
- Stocks dip as earnings pour in, consumer discretionary lags
- UPDATE: Alphabet (GOOG) Tops Q3 EPS Views; Revs Strong
- Twitter (TWTR) Tops Q3 EPS by 4c; Announces Restructuring, Workforce Reduction
- Cirrus Logic, Inc. (CRUS) Q2 Results and Guidance Beat Estimates
- Amazon.com (AMZN) Misses Q3 EPS by 26c, Offers Q4 Guidance
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
UBS maintained a Buy rating on Platform Specialty Products (NYSE: PAH), and cut the price target to $11.00 (from $12.00), following the company's investor day.
Analyst John Roberts commented, "PAH recently held its first investor day since new CEO (former CEO of Sigma-Aldrich), new CFO, new head of Ag, & since Martin Franklin became more focused on PAH after selling Jarden. Management has been focusing on capturing integration benefits, improved cash management, and setting the right basis for longer term growth. 2016e adjusted EBITDA guidance remains $735-$775M, relatively stable with proforma 2015 EBITDA of $742M. Proforma 2014 was essentially similar on a local currency basis. We believe PAH currently trades at an attractive valuation, supported by strong FCF generating businesses and more stable long term end market growth rates."
Shares of Platform Specialty Products closed at $8.55 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Mizuho Securities Downgrades Community Health (CYH) to Underperform
- Jefferies Raises Price Target on Western Digital (WDC) to $75; Reiterates Buy
- Rosenblatt Upgrades NETGEAR (NTGR) to Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!