Roth Capital Raises Price Target on Future Fuel (FF) Following 3Q Revenue Beat
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Up: 13 | Down: 11 | New: 11
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Roth Capital reiterated a Buy rating on FutureFuel Corp. (NYSE: FF), and raised the price target to $17.00 (from $13.00), following the company's 3Q earnings report. 3Q15 revenue was $2.1m above Roth's model, but EBITDA and EPS were ($17m) and ($0.14) below forecasts.
Analyst Craig Irwin commented, "We maintain our Buy rating on shares of FutureFuel after weak 3Q15 results, where sequential weakness in Chemicals was the major surprise. We remain constructive primarily for potential reinstatement of the biodiesel tax credit as a producers credit through the end of 2016, as these should result in the recognition of this benefit directly in GAAP EPS. We also see potential for accretive M&A transactions or another large one-time dividend, supported by FutureFuel's $247m (or $5.69/share) in cash."
For an analyst ratings summary and ratings history on FutureFuel Corp. click here. For more ratings news on FutureFuel Corp. click here.
Shares of FutureFuel Corp. closed at $14.46 yesterday.
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