KeyBanc Upgrades Kraton Performance Polymers (KRA) to Buy; Recent Momentum Should Stick to This Plastic

KeyBanc upgraded Kraton Performance Polymers (NYSE: KRA) from Hold to Buy with a price target of $41.00.

KeyBanc analyst says, "What has changed that has prompted us to a closer look is: 1) 4Q results for chemicals appear to be an afterthought; 2) KRA should handily beat 4Q expectations, which are set very low; 3) Butadiene prices are poised to march higher, which has tended to be positive for the stock; 4) recent acquisition activity such as WLK’s bid on GGC should provide support even with the recent run; and 5) 2012E will post KRA’s third consecutive year with operating margins above 10%, which we believe should warrant multiple expansion over time."

For an analyst ratings summary and ratings history on Kraton Performance Polymers click here. For more ratings news on Kraton Performance Polymers click here.

Shares of Kraton Performance Polymers closed at $29.84 yesterday.

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