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Fly News Breaks for October 25, 2019
NGVT
Oct 25, 2019 | 08:02 EDT
SunTrust analyst James Sheehan lowered his price target on Ingevity to $120 but kept his Buy rating after its Q4 results, saying that while it missed on earnings, the guide-down was already incorporated into the "very low" consensus expectations prior to the release. The analyst notes that Ingevity's Chemicals segment is being impacted by the industrial slowdown, but Materials business is performing at a high level, adding he expects the company's decreasing leverage to yield a lower relative valuation discount.
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