KeyBanc Starts Ingevity Corp (NGVT) at Overweight

KeyBanc initiates coverage on Ingevity Corp (NYSE: NGVT) with a Overweight rating and a price target of $43. Analyst Michael J. Sison noted secular growth drivers.

"We believe NGVT offers investors a high quality specialty chemical portfolio with solid secular growth drivers and manageable exposure to the potential for rising demand in energy markets. Long term, NGVT should be capable of LSD to MSD organic sales growth levered into HSD EBITDA growth and has a solid balance sheet with net debt-to-EBITDA of ~2.5x that can be further utilized to support ~10% EPS growth," said Sison.

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

Shares of Ingevity Corp closed at $34.95 yesterday.

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