AdvanSix (ASIX) PT Raised to $43 at Stifel

Stifel analyst Vincent Anderson raised the price target on AdvanSix (NYSE: ASIX) to $43.00 (from $40.00) while maintaining a Buy rating.

The analyst comments "We are updating our model for observed market pricing in 1Q24, as well as US trade data through February. On net, our estimates increase for 1Q24 as well as the balance of the year, primarily driven by a strong move in US ammonium sulfate prices. Nylon fundamentals are also showing some signs of improvement, though we remain cautious on the duration of these improvements should they prove limited to the impact of US production disruptions. Overall, our estimates increase marginally, with room to move higher if current conditions persist. We maintain our Buy rating and bump our target to $43 on higher estimates."

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