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Fly News Breaks for August 5, 2019
OEC, CBT
Aug 5, 2019 | 08:40 EDT
As previously reported, Loop Capital analyst Chris Kapsch downgraded Cabot (CBT) to Hold and lowered his price target to $41 from $69 ahead of its Q3 results today. The analyst no longer sees "enough constructive fundamental dynamics" to warrant a bullish stance on the stock, stating that the challenges for the carbon black industry implied in the rival Orion Engineered Carbon's (OEC) commentary last week suggests that Cabot may also indicate "incrementally challenging industry conditions."
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