KeyBanc Downgrades PolyOne (POL) to Hold; Underperforms as Volumes Slow
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Price: $1.82 --0%
Rating Summary:
10 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 5 | Down: 11 | New: 27
Rating Summary:
10 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 5 | Down: 11 | New: 27
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KeyBanc downgraded PolyOne (NYSE: POL) from Buy to Hold.
KeyBanc analyst says, "Given our view that the specialty chemical sector tends to underperform as volumes slow, the plastics industry tends to be more cyclical and volumes will be negative year-over-year near term for POL, we are downgrading our rating on shares of POL to HOLD...While we expect earnings to be in line with expectations during the quarter, we sense that a difficult volume growth environment will likely limit upside as this point. We also believe that while the ColorMatrix acquisition is a solid fit longer term, the market will view the valuation as rich, particularly if another economic downturn should materialize."
For more ratings news on PolyOne click here and for the rating history of PolyOne click here.
Shares of PolyOne closed at $10.93 yesterday.
KeyBanc analyst says, "Given our view that the specialty chemical sector tends to underperform as volumes slow, the plastics industry tends to be more cyclical and volumes will be negative year-over-year near term for POL, we are downgrading our rating on shares of POL to HOLD...While we expect earnings to be in line with expectations during the quarter, we sense that a difficult volume growth environment will likely limit upside as this point. We also believe that while the ColorMatrix acquisition is a solid fit longer term, the market will view the valuation as rich, particularly if another economic downturn should materialize."
For more ratings news on PolyOne click here and for the rating history of PolyOne click here.
Shares of PolyOne closed at $10.93 yesterday.
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