Jefferies Reiterates a 'Buy' on OMNOVA Solutions (OMN); Raising Numbers on Cautious Optimism

July 2, 2012 9:09 AM EDT Send to a Friend
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Price: $8.34 +0.24%

Rating Summary:
    1 Buy, 1 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 9 | Down: 9 | New: 11
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Jefferies reiterates a 'Buy' on OMNOVA Solutions (NYSE: OMN) price target of $11.00 (from $8.50).

Analyst, Laurence Alexander, said, "Sharp declines in raw materials should provide a tailwind to 2H12 that offsets risks from softer end-markets. We are raising 2012E EPS $0.05 to $0.80 and setting 2013E at $1.10. We expect cumulative FCF north of $3/share in 2012E-2013E, leading to Net Debt/2013E EBITDA of 1.2x by the end of 2013."

For an analyst ratings summary and ratings history on OMNOVA Solutions click here. For more ratings news on OMNOVA Solutions click here.

Shares of OMNOVA Solutions closed at $7.54 yesterday.




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