UPDATE: Goldman Sachs Upgrades Univar (UNVR) to Buy

Goldman Sachs analyst Robert Koort upgraded Univar (NYSE: UNVR) from Neutral to Buy with a price target of $31.00 (from $26.00).

The analyst comments "Given the broad-based economic improvement and translation into building chemical demand momentum with an inflationary backdrop that we expect, we believe the current industry conditions are optimal for chemical distributors and UNVR may be on the cusp of an upward earnings revisions recycle and consequently improving investor sentiment. Given its challenged history (e.g., recent negative revisions, inconsistent FCF generation) that we believe has resulted in a valuation discount on the shares, we believe a possible transition into a beat and raise story would be well-received and result in simultaneous multiple uplift as investors grow more confident and positive on the company."

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

Shares of Univar closed at $24.76 yesterday.

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