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Fly News Breaks for April 3, 2018
TSE
Apr 3, 2018 | 07:25 EDT
Deutsche Bank analyst David Begleiter views the 11% pullback over the past three weeks in shares of Trinseo as overdone. Trinseo is once again one of the cheapest stocks in chemicals, Begleiter tells investors in a research note. While concerns over new styrene capacity are justified as a significant portion of Trinseo's shares quadrupling over the past three years was due to strong styrene margins, the size of the discount being applied to Trinseo shares is "too severe," Begleiter writes. He keeps a Buy rating on the name with a $96 price target.
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