Seaport Global Securities Upgrades Quaker Chemical Corporation (KWR) to Buy

Seaport Global Securities analyst Michael Harrison upgraded Quaker Chemical Corporation (NYSE: KWR) from Neutral to Buy.

The analyst comments "In this report, we provide some high-level themes and macro charts, as well as earnings previews for 17 companies in our coverage reporting earnings in the coming weeks: APD, ASH, AVNT, AXTA, ECL, ENTG, ESI, FMC, HUN, IOSP, KWR, LIN, MTRN, MTX, PPG, SCL, and SHW. We are reducing our estimates for most companies in response to the Iran war, baking in some margin pressure, lower volumes, and higher pricing. We believe most companies responded quickly to higher raw material costs with price increases, providing some confidence in their ability to manage higher raw material costs. Demand impacts will be more challenging to discern; while we assume inflation will lead to some demand destruction, we also note some macro indicators are pointing in the right direction. If raw material costs stabilize or move lower, we can envision a scenario in which companies' pricing could exceed higher costs, translating into margin tailwinds. Companies on which we're more positive heading into earnings season include APD, AVNT, ECL, ENTG, ESI, LIN, and MTRN. We are more cautious on ASH, AXTA, IOSP, and SCL. We upgraded KWR from Neutral to Buy ($175 PT), and increased our price target on LIN from $525 to $575."

For an analyst ratings summary and ratings history on Quaker Chemical Corporation click here. For more ratings news on Quaker Chemical Corporation click here.

Shares of Quaker Chemical Corporation closed at $130.75 yesterday.

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