Oppenheimer Cuts Price Target on Kraton (KRA), But Sees a Bottom

Oppenheimer cut its price target on Kraton Performance Polymers (NYSE: KRA) by $12 to $43 but is keeping an Outperform rating, saying despite an expected Q4 loss it will likely mark a bottom for the stock.

The firm notes that the company is earning nearly $4 per share and is trading at a 4.6x trailing P/E. That said chemical stocks are trading vehicles and move in "Vs" - the next V will be up.

For more ratings news on Kraton Performance Polymers click here and for the rating history of Kraton Performance Polymers click here.

Shares of Kraton Performance Polymers closed at $17.94 yesterday.

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