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Fly News Breaks for May 23, 2019
CBT
May 23, 2019 | 09:20 EDT
Loop Capital analyst Chris Kapsch lowered his price target on Cabot to $69 to reflect the company's FY19 guidance cut that accompanied its in-line Q2 earnings. The analyst attributes the revision to Cabot's China exposure, which he calls "underwhelming" but not all that surprising, along with the broader trends in the Polymers industry and automotive end markets. Longer term, Kapsch keeps his Buy rating on Cabot, adding that a potential resolution to China trade tensions and a broader China economic recovery would also serve as a positive catalyst for the stock.
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