KeyBanc Downgrades Cabot (CBT) to Hold
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KeyBanc downgrades Cabot (NYSE: CBT) from Buy to Hold.
KeyBanc analyst says, "Not only is the soft economy taking its toll on Cabot's rubber black, performance black and fumed metal oxide business, the precipitous decline in the electronics industry will mute the profit recovery we anticipated for Supermetals too...We also observe that once restructuring is required, the stock price of that company takes an initial short-term hit but given that it often takes quite some time for the restructuring benefits to show up in EPS, the stock prices of such companies tend to languish - or even move lower - well before improvement appears. That is another reason we are moving to a HOLD rating now."
Cabot Corporation (Cabot) is a specialty chemicals and performance materials company.
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