Quaker Chemical (KWR) PT Raised at Jefferies on Bolt-On Acqusition

Jefferies analyst Laurence Alexander bumped his price target on Buy-rated Quaker Chemical Corporation (NYSE: KWR) to $93.00 (from $89.00) following another bolt-on acquisition.

Alexander comments, "Quaker announced it will purchase ECLI Products for 7.4x 2014E EBITDA. This acquisition is consistent with KWR's growth strategy of supplementing organic growth with bolt-ons and complements the company's prior foray in the $1.2-$2.0bn specialty greases market. "

The firm also raised FY 2014 EPS from $4.00 to $4.05 and FY 2015 EPS from $4.65 to $4.85.

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 $75.76 yesterday.

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