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Cabot price target lowered to $60 from $62 at Deutsche Bank » 06:5412/0712/07/21
Deutsche Bank analyst…
Deutsche Bank analyst David Begleiter lowered the firm's price target on Cabot to $60 from $62 and keeps a Hold rating on the shares. At an "upbeat" investor meeting, Cabot made a "strong case" that its recent earnings strength is not only sustainable but can expand further driven by favorable carbon black supply/demand fundamentals, growth in its specialty businesses and strong free cash flow to support growth investments and fund bolt-on acquisitions, Begleiter As previously reported,
Cabot price target raised to $72 from $70 at Barclays » 06:1312/0312/03/21
Barclays analyst Michael…
Barclays analyst Michael Leithead raised the firm's price target on Cabot to $72 from $70 and keeps an Overweight rating on the shares post the investor day. The analyst thinks management gave a "credible and compelling" presentation, laying out a streamlined portfolio, a more durable level of base earnings and attractive growth investment opportunities.
Cabot to hold an investor day » 09:2512/0212/02/21
Cabot provides three year targets at investor day » 08:0612/0212/02/21
Cabot provided a review…
Cabot provided a review of the company's updated growth strategy and financial targets at its investor day. The company announced a three year target adjusted EPS CAGR of 8%-12%. Additionally, the company introduced a three year target cumulative discretionary free cash flow of $1B. "Cabot is well-positioned for the next phase of growth and shareholder value creation as we execute our new 'Creating for Tomorrow' strategy. We will continue to drive our industry-leading businesses to achieve the next set of strategic objectives, which include growing our differentiated product lines, investing in higher margin applications and generating discretionary free cash flow in excess of $1 billion over the next three years. As we execute this strategy, we remain committed to maintaining an investment grade credit rating and returning capital to shareholders," said Sean Keohane, president and CEO.
Cabot to hold an investor day » 04:5512/0212/02/21
Cabot signs MOU with IFF Health and Biosciences on additives for rubber products » 09:2912/0112/01/21
Cabot announced it has…
Cabot announced it has signed a memorandum of understanding, or MOU, with IFF Health and Biosciences for the development and commercialization of sustainable reinforcing additives for rubber products. Under the terms of this MOU, Cabot and IFF will exclusively work together to accelerate the advancement of solutions that reduce greenhouse gas emissions and increase the amount of renewable bio-based content in rubber products. Over the last year, the two companies have been exploring the development of novel, highly sustainable rubber reinforcing additives based on the use of IFF's Nuvolve engineered polysaccharide. Under the terms of this new MOU, Cabot will lead the development and commercialization of this novel product as a complementary material to Cabot's reinforcing carbons in rubber applications, leveraging the sustainability benefits of a renewable resourced material.
Cabot price target raised to $86 from $81 at Loop Capital » 09:2311/2911/29/21
Loop Capital analyst…
Loop Capital analyst Christopher Kapsch raised the firm's price target on Cabot to $86 from $81 and keeps a Buy rating on the shares as part of a broader research note on Chemicals. The stock is "perplexingly inexpensive" at just 6.4-times expected FY22 EBITDA projections despite the recent upward estimate revision cycle, and given the set-up for prospectively much stronger fundamentals and results in 2022, the analyst tells investors in a research note.
Cabot signs agreement to sell Purification Solutions business for $111M » 08:0911/2611/26/21
Cabot Corporation announced that the company entered into an agreement to sell its Purification Solutions business to One Equity Partners, a middle market private equity firm, in a transaction valued at $111M, subject to certain debt-like and other closing adjustments. Cabot's Purification Solutions business researches, develops, manufactures and sells high-performing activated carbon used in a range of environmental, health, safety, and industrial applications. "We are pleased to have reached an agreement with One Equity Partners as they have a proven track record of advancing market-leading industrial companies and are committed to the future success of the business," said Sean Keohane, Cabot president and chief executive officer. "At the same time, this transaction will allow us to focus resources on our core business segments and invest in areas where we see strong future growth and innovation potential for Cabot, such as Battery Materials."
Cabot to hold an investor day » 17:0311/2411/24/21
Cabot price target raised to $62 from $58 at Deutsche Bank » 06:5011/1611/16/21
Deutsche Bank analyst…
Deutsche Bank analyst David Begleiter raised the firm's price target on Cabot to $62 from $58 and keeps a Hold rating on the shares. The company had a positive fiscal Q4 release as 2022 earnings guidance bracketed consensus, management reaffirmed a positive outlook for its tire customer agreements and the company highlighted positive momentum in its battery materials business, Begleiter tells investors in a research note.