Janney Montgomery Scott Downgrades Quaker Chemical (KWR) to Neutral
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Janney Montgomery Scott downgrades Quaker Chemical (NYSE: KWR) from Buy to Neutral.
Janney analyst says, "Quaker has a clear differentiation strategy of consultative selling that enables the company to support over 200 applications worldwide. Through the increase of new applications and the development of new products such as metal and concrete coatings, the company can expand its addressable markets. However, in light of a global slowdown of its end markets, primarily steel, the company's operating results reflect a cyclical trough. During this period of cyclical decline, management has acted quickly to remove costs from the business while remaining well positioned for a cyclical recovery. However, based on its current valuation, we are lowering our rating to NEUTRAL from Buy...We are lowering our 2009 EPS to 0.55 from $0.66 and our 2010 estimate to $1.00 from $1.42."
Quaker Chemical Corporation (Quaker) develops, produces, and markets different formulated chemical specialty products for various heavy industrial and manufacturing applications and, in addition, offers and markets chemical management services (CMS).
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GE
Harry Abrams on Apr 30, 2009 03:24 PMIs GE a good buy ?