Gabelli Upgrades A. Schulman (SHLM) to Buy

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Gabelli upgraded A. Schulman (NASDAQ: SHLM) from Hold to Buy and raises FY’13 and ’14 EPS to $2.18 (from $2.15) and $2.45 (from $2.40), respectively.

The firm comments, "Current valuation does not fully reflect the potential from Schulman’s large European exposure, in our opinion. The company has a conservative balance sheet with trailing net debt of $116M and total debt of $223M or 1.7x EBITDA. "

For an analyst ratings summary and ratings history on A. Schulman click here. For more ratings news on A. Schulman click here.

Shares of A. Schulman closed at $30.97 yesterday, with a 52 week range of $17.75-$32.12.

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