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Fly News Breaks for April 11, 2018
HON, GRA
Apr 11, 2018 | 08:03 EDT
Credit Suisse analyst Christopher Parkinson notes that W.R. Grace (GRA) traded higher on unconfirmed potential Honeywell (HON) takeout. While noting the idea has been around for years, the analyst sees "slightly higher" likelihood that Honeywell is further evaluating acquiring W.R. Grace given healthy long-term demand for HPC catalysts, recent speculation that Clariant views W.R. Grace as a primary M&A target, and the recent pullback in the latter's stock price. Parkinson reiterates an Outperform rating and $82 price target on W.R. Grace shares.
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