|Over a week ago|
PolyOne price target raised to $30 from $25 at Baird » 09:1407/0207/02/20
Baird analyst Ben Kallo…
Baird analyst Ben Kallo raised the firm's price target on PolyOne to $30 from $25 and keeps an Outperform rating on the shares. The analyst updated his model to reflect contribution from the Masterbatch acquisition. He continues to like the acquisition which should accelerate its specialty transition and could drive multiple expansion.
PolyOne changes name to 'Avient' » 05:2507/0107/01/20
PolyOne has completed its…
PolyOne has completed its purchase of the color masterbatch businesses of Clariant and Clariant Chemicals India Ltd. PolyOne also announced that it has changed its name and will now be called Avient. "We proudly welcome our newest associates and valued customers from Clariant Masterbatch. They are joining us on Day 1 of this new era for our company, which as of today will be named Avient," said Robert M. Patterson, Chairman, President and Chief Executive Officer, Avient."With this acquisition, Avient now expects over 85% of adjusted EBITDA to be generated from specialty applications," said Mr. Patterson. "This is up from less than 10% when our specialty journey began over a decade ago. While we honor the legacies of our past organizations, under our new name Avient, we come together and look to the future as a world-class sustainable organization." In conjunction with its rebranding and new name, the company's ticker symbol will change from "POL" to "AVNT," effective at the start of trading on July 13. As of that date, the "POL" trading symbol will no longer be active.
PolyOne downgraded to Hold on limited near-term upside at Stifel » 12:1206/1606/16/20
As previously reported,…
As previously reported, Stifel analyst Vincent Anderson downgraded PolyOne to Hold from Buy with an unchanged price target of $25 after updating his estimates for the Clariant Masterbatches consolidation, which is expected to close July 1. Second quarter results, which were reported to be only marginally improving sequentially in June, may keep investors sidelined and he sees the potential for near-term upside to be limited to a broader market recovery, Anderson added.
PolyOne downgraded to Hold from Buy at Stifel » 12:0906/1606/16/20
Stifel analyst Vincent…
Stifel analyst Vincent Anderson downgraded PolyOne to Hold from Buy with an unchanged price target of $25.
|Over a month ago|
Fly Intel: Top five analyst initiations » 10:0405/2805/28/20
FUN, SIX, SEAS, AXLA, CPE, THS, POL
Catch up on today's…
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Cedar Fair (FUN) was initiated with a Buy at Goldman Sachs, while SeaWorld (SEAS) was initiated with a Neutral, and Six Flags (SIX) was initiated with a Sell. 2. Axcella (AXLA) initiated with an Outperform at Wedbush. 3. Callon Petroleum (CPE) initiated with a Buy at MKM Partners. 4. TreeHouse (THS) initiated with a Buy at DA Davidson. 5. PolyOne (POL) initiated with an Overweight at Morgan Stanley. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
Morgan Stanley starts 'defensive' PolyOne at Overweight with $30 price target » 08:1005/2805/28/20
As previously reported,…
As previously reported, Morgan Stanley analyst Vincent Andrews initiated coverage of PolyOne with an Overweight rating and $30 price target. While PolyOne faces an "uncertain" 2020 and 2021, Andrews believes its favorable end-market exposure can keep its near-term volume decline at the lower end of the Chemical industry spectrum, he tells investors. The analyst, who still prefers a more defensive positioning, said "PolyOne fits into our defensive paradigm."
PolyOne initiated with an Overweight at Morgan Stanley » 05:2005/2805/28/20
Morgan Stanley initiated…
Morgan Stanley initiated coverage of PolyOne with an Overweight rating and $30 price target.
PolyOne reports Q1 adj. EPS 48c, consensus 44c » 06:4504/2104/21/20
Reports Q1 revenue…
Reports Q1 revenue $711.5M, consensus $735.36M. "The COVID-19 pandemic is having a significant impact on the world and our first priority is the health and safety of our associates, customers and all stakeholders. We are strictly adhering to government guidelines and protocols as well as other preventative measures to help stop the spread of the virus," said Robert Patterson, chairman, president and CEO, PolyOne.
|Over a quarter ago|
PolyOne upgraded to Buy at Stifel on product portfolio, cash generation » 15:2503/2303/23/20
As previously reported,…
As previously reported, Stifel analyst Vincent Anderson upgraded PolyOne to Buy from Hold with a $34 price target. The analyst believes PolyOne's business model is relatively well-positioned to withstand the impact of COVID-19 owing to its solid exposure to packaging and healthcare products, and relatively low automobile exposure. Additionally, compounding and distribution businesses are highly cash-generative, and with the former likely to benefit from lower raw material prices in the current environment, he notes. Finally, while Anderson has held a relatively negative view of the Clariant masterbatch acquisition, management in its recent conference call left the door open to exiting the deal. A decision not to move forward with the purchase would leave the company with over $1B in cash to defend its share price and pursue more opportunistic bolt-on acquisitions, while avoiding levering its balance sheet at an inopportune time, offering further upside to already undervalued shares, he contends.
PolyOne upgraded to Buy from Hold at Stifel » 15:1903/2303/23/20
Stifel upgraded PolyOne…
Stifel upgraded PolyOne to Buy from Hold.