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Fly News Breaks for November 20, 2018
OEC
Nov 20, 2018 | 05:23 EDT
UBS analyst John Roberts upgraded Orion Engineered Carbons to Buy with an unchanged price target of $34. The stock is down 30% from its September high as the market seems to be pricing in a 20% decline in 2019 EBITDA, Roberts tells investors in a research note. He believes, however, that this "significantly underestimates the stability of the business model." Concerns over higher oil prices, China market weakness and global tire market weakness are overblown, says the analyst.
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