PolyOne (POL) PT Raised to $45 at Jefferies Following 3Q release

Jefferies raised its price target on PolyOne (NYSE: POL) to $45.00 (from $42.00) while maintaining a Hold rating following 3Q report. EPS was $0.03 above consensus estimates. Hurricane related supply costs and higher compensation expenses cap Q4 results, but fade in 2018.

Trends remain positive, and the company has seen volume growth across all end-markets. Notably, a rebound in transportation and energy demand is helping sales outpace overall economic growth in Europe. The sales force grew by 19% over the past three years, and new customer wins should help organic sales growth accelerate to 5% annually by 2019E.

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