UPDATE - Oppenheimer Upgraded Chemtura Corporation (CHMT) to Outperform; All The Way to $60

March 16, 2012 9:41 AM EDT
Get Alerts CHMT Hot Sheet
Price: $33.15 -0.15%

Rating Summary:
    3 Buy, 8 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
Trade CHMT Now!
Join SI Premium – FREE
UPDATE - Oppenheimer upgraded Chemtura Corporation (NYSE: CHMT) from Market Perform to Outperform with a new price target of $21.00.

Oppenheimer analyst said, "We upgrade CHMT as its long restructuring post-bankruptcy takes hold, 4Q's margin expansion looks to have legs, and the rebound in electronics flame retardants, its most profitable segment, is faster than expected. We raise our '12E EPS to $1.22, '13E to $1.72, and implement a 12-18 month $21 price target (12x '13E P/E, 5.3x FV/EBITDA, 10% FCF yield). However, if CHMT can execute on its ambitious long-term objectives, a stretch, but now not wholly implausible, its shares could ultimately work toward the $60s range."

To see more ratings on CHMT, Click Here

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

New Coverage

Related Entities


Add Your Comment