KeyBanc Upgrades Cabot (CBT) to Buy
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KeyBanc upgrades Cabot Corporation (NYSE: CBT) from Hold to Buy and raises their price target to $40.
The firm said they still see Q4 EPS of $0.22, but expect a very positive outlook for 2009. The firm is raising 2009 EPS estimates from $2.20 to $2.60.
The firm cited, "1) a better outlook for carbon black; 2) lower spending on embryonic development; and 3) significant improvement in Supermetals."
Cabot Corporation provides specialty chemicals and performance materials worldwide. Its product lines include carbon black, metal oxides, supermetals, and specialty fluids.
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