UBS Cuts Price Target on Platform Specialty Products (PAH) Following Investor Day

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."

For an analyst ratings summary and ratings history on Platform Specialty Products click here. For more ratings news on Platform Specialty Products click here.

Shares of Platform Specialty Products closed at $8.55 yesterday.

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