Jefferies Lowers CBT 2011E EPS Estimate
Jefferies is lowering its 2011E EPS estimate from $3.25 to $3.15.
“Cabot Corp. (NYSE: CBT) intends to spend $180m to expand carbon black capacity by 300,000 tpy (15% of capacity) in emerging regions. Given no recent competitor capacity announcements, the market could remain tight into 2012-13,” Jefferies writes.
Cabot currently trades at $44.82.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.