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Fly News Breaks for January 15, 2020
TSE
Jan 15, 2020 | 07:02 EDT
Deutsche Bank analyst David Begleiter last night downgraded Trinseo to Hold from Buy with a price target of $38, down from $52. The analyst says that with styrene "arguably the most challenged chain" in all of commodity chemicals over the next few years owing to significant new capacity in China, he sees no near-to-medium term catalysts in the styrenics portion of Trinseo's business. Further, with "muted" global growth, particularly in Europe and automotive, Begleiter also sees few near-to-medium term catalysts in Trinseo's performance businesses.
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