Janney Montgomery Scott Initiates Coverage on Quaker Chemical (KWR) with a Buy

October 8, 2008 10:26 AM EDT

Janney Montgomery Scott initiates coverage on Quaker Chemical (NYSE: KWR) with a Buy rating and a fair value of $31.00.

Janney analyst says, "Despite the prospects of slower world-wide economic growth, the company is positioned in markets that are in place to outperform the North American economy. With its current yield and declining capital expenditure, the company is positioned to increase its free cash flow generation, to increase its payout, or make accretive acquisitions. In light of intensifying global competition, and increasing quality standards, Quaker has solutions that address the current challenges within the steel production, metal processing, and manufacturing-related industries. 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."

Quaker Chemical Corporation (Quacker) 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.

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