As reported earlier, SunTrust analyst James Sheehan downgraded Kraton to Hold from Buy and lowered his price target to $31 from $60 after its Q3 earnings miss and lowered FY18 guidance. The analyst notes that the management has cited "weakening demand, tariff impacts, escalating logistics costs and an extended plant outage" in reducing its outlook. Sheehan adds that while he still expects Kraton to generate "solid free cash flows" in the long term, its deleveraging progress has been stalled by macro headwinds and "unplanned outages of uncertain duration".