Stifel analyst Vincent Anderson maintained a Buy rating on AdvanSix after the mayor of Philadelphia confirmed an earlier Reuters report that PES intends to permanently close its refinery following the recent plant explosion and fire. In a research note to investors, Anderson, who believes shares of AdvanSix are weak due to the probability that the refinery will go through with the closure, says he does not expect clarity from management for some time, but thinks his estimates should limit downside risk in shares to $2-$4. He says that while it is likely that the increased cost will drive a negative revision to estimates, he continues to view AdvanSix shares as undervalued and with an improving earnings profile in 2020.