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Fly News Breaks for January 24, 2019
KRA
Jan 24, 2019 | 06:26 EDT
Loop Capital analyst Chris Kapsch kept his Buy rating and $59 price target on Kraton, saying his recent conversations with its CFO Chris Russell did not indicate any "trepidation about recent macroeconomic and/or trade developments tied to China." While Russell acknowledged some of the operational "hiccups" in Q3, Kapsch notes that much of the distraction was related to Kraton's operations in the Florida panhandle, where one of the company's CTO refineries operates. The analyst adds that Kraton shares are "very cheap" given the company's "relatively-differentiated portfolio mix, attractive end-market profile, and healthy EBITDA margins", but he is uncertain of what catalyst can shift investor perception toward greater value for the stock.
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