AdvanSix (ASIX) PT Lowered to $35 at Cowen

November 23, 2018 9:54 AM EST
Get Alerts ASIX Hot Sheet
Price: $32.42 +2.69%

Rating Summary:
    2 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 11 | New: 18
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Cowen analyst Charles Neivert lowered the price target on AdvanSix (NYSE: ASIX) to $35.00 (from $40.00) while maintaining an Outperform rating.

The analyst commented: "We expect increased near-term headwinds tied to excess acetone supply and expect margins to begin to rebound in 2019, with further expansion in 2020, on improved fundamentals and benefits from capex investments focused on reducing cost and driving growth. Lowering our price target to $35 implying 6.5x FY19E EV/EBITDA."

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