J.P. Morgan Suspends Rating On Cabot

J.P. Morgan Chase & Co. is out with a research report on Cabot Corporation (NYSE: CBT) and is suspending its price target and rating.

In a note to clients, J.P. Morgan Chase & Co. writes, "On Thursday, August 25, Cabot announced that it entered into a Sale and Purchase Agreement with Global Advanced Metals (GAM), an Australian company, for the sale of the assets of the Supermetals (Tantalum) business for a minimum of $400M in total cash consideration."

Shares of CBT lost 20 cents yesterday to close at $31.24.