UBS Maintains a 'Buy' on Kraton Performance Polymers (KRA); Strong Volumes in 1Q12, but Product Mix Was Poor

May 4, 2012 2:36 PM EDT Send to a Friend
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Price: $19.01 +0.90%

Rating Summary:
    2 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 18 | New: 41
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UBS maintains a 'Buy' on Kraton Performance Polymers (NYSE: KRA) price target lowered from $32 to $31.

Analyst, Andrew W. Cash, said, "KRA reported GAAP EPS of $0.50 in 1Q, below the Consensus estimate of $0.65 and our estimate of $0.69. The net negative impact of one-time items of 2ยข is included in the reported GAAP number. Sales volumes were at a record level of 90kt for 1Q, but this volume was achieved by growth in the lower margin product areas including paving and roofing. Overall pricing was down sequentially 7.5% as a result of the mix issue and perhaps some give-back associated with falling raw material prices in 4Q."

UBS lowers FY12 EPS from $3.30 to $2.70 and raises FY13 from $3.15 to $3.35.

For an analyst ratings summary and ratings history on Kraton Performance Polymers click here. For more ratings news on Kraton Performance Polymers click here.

Shares of Kraton Performance Polymers closed at $23.17 yesterday.


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