KeyBanc Initiates Zep Inc. (ZEP) with a Buy
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KeyBanc initiates coverage on Zep Inc. (NYSE: ZEP) with a Buy rating and a $20 price target. The firm said, "Our BUY rating is predicated upon our belief that ZEP possesses solid fundamentals, good opportunity to enhance margins through streamlining operations, healthy low double-digit annual EPS growth potential, expansion opportunities in distribution channels and attractive valuation prospects. ZEP is a turnaround story ultimately changing strategy to growth vs. self-inflicted or secular-driven turnarounds."
ZEP is a leading provider of specialty chemical products to a wide variety of industrial, institutional and retail customers.
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