Chemtura (CHMT) PT Lifted to $34 at Piper Jaffray

Piper Jaffray analyst Mike Ritzenthaler reiterated an Overweight rating and boosted his price target on Chemtura Corporation (NYSE: CHMT) to $34.00 (from $32.00) following meetings with management.

Ritzenthaler commented, "We maintain our Overweight rating on shares of CHMT following a round of investor meetings we hosted with management last week. Perhaps the most interesting takeaway from our meetings is that some potentially positive developments in what have been very challenged end markets have not altered management’s attention from delivery of the various cost-saving initiatives. Cost-outs slated for this year are on-track, but management remains poised to capitalize on improving fundamentals (competitor bromine price nominations, octyl tin volumes in OMS, raw materials in petroleum additives)."

For an analyst ratings summary and ratings history on Chemtura Corporation click here. For more ratings news on Chemtura Corporation click here.

Shares of Chemtura Corporation closed at $26.93 yesterday.

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