Fly News Breaks for August 2, 2019
NEU
Aug 2, 2019 | 09:12 EDT
As previously reported, Buckingham analyst Dmitry Silversteyn upgraded NewMarket to Neutral from Underperform. As raw material comps improve and the company exits lower margin businesses, he expects margins to return back to historic mid-to-high teens levels, said Silversteyn, who raised his price target on the shares to $420 from $380. However, he still sees volume declines continuing in the second half, which may keep the stock range-bound despite a margin recovery, the analyst said.
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