Jefferies Raises Price Target on Koppers Holdings (KOP)

Jefferies analysts raised their price target on Koppers Holdings (NYSE: KOP) $3 from $43.00 to $46.00 while maintain a BUY rating on the company. They also raised 2012 estimated EPS by $0.20 to $3.70.

Koppers is a leading integrated producer of carbon compounds and commercial wood treatment products, serving niche applications in the aluminium, railroad, specialty chemical, utility, rubber and steel industries.

The Jefferies report states that global aluminum demand looks to rise 6%-7%. Demand for phthalic anhydride appears to be improving for both the automotive and construction markets, and Koppers expects a strong construction (cement) market in China in Q2. Koppers expects global pitch volumes to be flat year over year, and coal tar headwinds will likely increase in the second half of 2012.

For an analyst ratings summary and ratings history on Koppers Holdings click here. For more ratings news on Koppers Holdings click here.

Shares of Koppers Holdings closed at $39.22 yesterday.

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