KeyBanc Starts Chemtura Corporation (CHMT) at Buy
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Price: $33.50 --0%
Rating Summary:
1 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 20 | New: 20
Rating Summary:
1 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 20 | New: 20
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KeyBanc initiates coverage on Chemtura Corporation (NYSE: CHMT) with a Buy. PT $25.00.
The firm comments, "In our view, CHMT shares offer significant upside to the value investor from today's price of $18.08. Even in the current macro- environment, CHMT should experience solid earnings growth in 2013 resulting from its portfolio management, continuous development of its higher growth businesses and capitalizing on its leverage to favorable global trends, such as increasing environmental regulations and standards. It is true that CHMT is impacted by cyclical markets, like electronics, but we believe that shares and forward expectations now reflect today's weak environment. Additionally, CHMT's valuation is still impacted from its more recent past (bankruptcy), along with a reputation of reporting underwhelming results vs. expectations prior to entering bankruptcy, in our opinion. Now, with several leadership changes throughout the enterprise, combined with an improving portfolio and operations, we anticipate shares will slowly garner an improved multiple going forward."
For an analyst ratings summary and ratings history on Chemtura Corporation click here. For more ratings news on Chemtura Corporation click here.
Shares of Chemtura Corporation closed at $17.81 yesterday.
The firm comments, "In our view, CHMT shares offer significant upside to the value investor from today's price of $18.08. Even in the current macro- environment, CHMT should experience solid earnings growth in 2013 resulting from its portfolio management, continuous development of its higher growth businesses and capitalizing on its leverage to favorable global trends, such as increasing environmental regulations and standards. It is true that CHMT is impacted by cyclical markets, like electronics, but we believe that shares and forward expectations now reflect today's weak environment. Additionally, CHMT's valuation is still impacted from its more recent past (bankruptcy), along with a reputation of reporting underwhelming results vs. expectations prior to entering bankruptcy, in our opinion. Now, with several leadership changes throughout the enterprise, combined with an improving portfolio and operations, we anticipate shares will slowly garner an improved multiple going forward."
For an analyst ratings summary and ratings history on Chemtura Corporation click here. For more ratings news on Chemtura Corporation click here.
Shares of Chemtura Corporation closed at $17.81 yesterday.
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