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Fly News Breaks for March 11, 2019
Mar 11, 2019 | 06:55 EDT
JPMorgan analyst Jeffrey Zekauskas downgraded Orion Engineered Carbons (OEC) to Neutral from Overweight and lowered his price target for the shares to $20 from $31 following the company's Q4 results. Orion's peer company Cabot (CBT) offers a comparable but lower valuation and stronger business prospects, Zekauskas tells investors in a research note. Cabot has about 50% more carbon black pounds per share than Orion, in a rising environment for carbon black prices, says the analyst.