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Fly News Breaks for October 15, 2019
POL
Oct 15, 2019 | 16:36 EDT
Wells Fargo analyst Micheal Sison initiated coverage of PolyOne with a Market Perform rating and $35 price target. The analyst notes that although the company is generating "solid" earnings in 2019 while also delevering its balance sheet, it is lacking a "growth catalyst" to generate further multiple expansion. Sison adds that PolyOne is currently trading at an enterprise value to expected 2020 EBITDA multiple of 10-times vs. its 7-year valuation range of 8- to 11-times, adding that the higher end of that range was achieved when was company's growth rate was in double digits.
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