BofA/Merrill Lynch Starts Trinseo SA (TSE) at Buy

July 22, 2014 6:42 AM EDT
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Price: $52.00 +0.02%

Rating Summary:
    5 Buy, 3 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 18 | Down: 12 | New: 23
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BofA/Merrill Lynch initiates coverage on Trinseo SA (NYSE: TSE) with a Buy rating and a price target of $26.00.

Analyst Kevin McCarthy notes shares trade for the lowest multiple of EBITDA in their coverage despite near-trough conditions in 62% of the company's portfolio. McCarthy said optionality for a cyclical upturn in styrene, a solid synthetic rubber business, accretive debt refi potential, and attractive valuation offer ample compensation for risks.

For an analyst ratings summary and ratings history on Trinseo SA click here. For more ratings news on Trinseo SA click here.

Shares of Trinseo SA closed at $19.83 yesterday.

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