Fly News Breaks for December 9, 2019
Dec 9, 2019 | 08:03 EDT
SunTrust analyst James Sheehan upgraded Kraton (KRA) to Buy from Hold with a price target of $31, up from $24, and also upgraded Dow Inc (DOW) to Buy from Hold with a price target of $59, up from $52, as part of his broader research note previewing the Chemicals sector in 2020. For Kraton, the analyst notes that the proceeds of its sale of Cariflex will go toward its debt reduction, removing a key overhang on the stock. Sheehan also cites improvement in the company's macro environment after 2019 headwinds around adverse U.S. weather, inventory destocking, and global demand weakness. For Dow Inc, the analyst cites its low margin level in the company's chemicals value chains limiting the downside, with added potential earnings contributions coming from its $250M of new capacity investments.
News For KRA;DOW From the Last 2 Days