Wells Fargo Reiterates Outperform on Univar (UNVR) Following Announced Nexeo Acquisition
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Wells Fargo analyst, Allison Poliniak-Cusic, reiterated an Outperform rating and $40.00 price target on Univar (NYSE: UNVR) following the company's announced agreement to purchase Nexeo. Following the closing of the deal, UNVR will further cement its stake as the #2 global chemical distributor with an estimated 8-10% share, behind the current global leader Brenntag.
Wells Fargo views the deal favorably given the overlap with UNVR’s ongoing focus on profitable scale through technical sales, product breadth and deeper market penetration in areas like personal care.
Shares of Univar closed at $27.67 yesterday.
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