UPDATE: UBS Upgrades Cabot Corp. (CBT) to Buy

(updating comment)

UBS analyst Joshua Spector upgraded Cabot Corp. (NYSE: CBT) from Neutral to Buy with a price target of $52.00 (from $50.00).

The analyst comments "We upgrade our rating to Buy as we believe recent stock weakness (down ~15% since November, vs S&P 500 up 8%) reflects temporary China risk (coronavirus), and we see upside as the company moves past what will likely be a negative comp in MarQ20. Past this, we believe favorable contract settlements in Reinforcement Materials (rubber black), and stabilizing autos will benefit CBT's margins, leading to an inflection in earnings growth."

For an analyst ratings summary and ratings history on Cabot Corp. click here. For more ratings news on Cabot Corp. click here.

Shares of Cabot Corp. closed at $42.34 yesterday.

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