KeyBanc Upgrades PolyOne (POL) to Buy, Sets $17 Price Target

January 13, 2012 1:37 PM EST
Get Alerts POL Hot Sheet
Price: $32.06 +0.09%

Rating Summary:
    9 Buy, 4 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
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Analysts at KeyBanc upgraded shares of PolyOne (NYSE: POL) from Hold to Buy in a mid-day research note Friday. The firm set a new $17 price target.

The firm cites:
  • attractive cyclical upside potential longer term, particularly as construction demand stabilizes and recovers;
  • strong EBITDA growth in 2012E vs. 2011E with a good portion coming from its acquisition of ColorMatrix; and
  • margin improvement despite volume pressures from production rationalization and productivity initiatives."
With PolyOne shares now up 2.7 percent to $13.08, KeyBanc's new price target implies potential upside of about
30 percent.

For an analyst ratings summary and ratings history on PolyOne click here. For more ratings news on PolyOne click here.

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