UPDATE: JPMorgan Downgrades Ferro Corp. (FOE) to Underweight

JPMorgan analyst Jeffrey Zekauskas downgraded Ferro Corp. (NYSE: FOE) from Neutral to Underweight with a price target of $22.00 (from $16.00).

The analyst comments "We rate Ferro Underweight for year-ahead performance. Ferro has reshaped its portfolio over the past decade by divesting more commoditized assets and making bolt-on acquisitions in niche markets, primarily in Europe. The company has accepted a $22/share offer from Prince International in an all-cash transaction that the company believes will close in 1Q:22."

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

Shares of Ferro Corp. closed at $21.78 yesterday.

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