Jefferies & Company Reiterates Buy Rating, $53 PT for Cabot Corporation
In a report published earlier today, Jefferies & Company, Inc. reiterated its Buy rating and $53.00 price target for Cabot Corporation (NYSE: CBT).
Jefferies & Company went on to say “Cabot has announced the acquisition of Norit, the leading producer of activated carbon, for $1.1bn, or 12x 2011 EBITDA. We estimate the deal should be $0.33 accretive in calendar 2014, including $0.28 in deal synergies. At a 5% ROIC in 2013, the deal is equivalent to conducting a buyback at $78/share under the same financing assumptions. We reiterate our Buy rating.”
Cabot Corporation closed yesterday at $36.51.
Latest Ratings for CBT
|Aug 2016||Deutsche Bank||Maintains||Hold|
|Aug 2016||SunTrust Robinson Humphrey||Downgrades||Buy||Neutral|
|Apr 2016||KeyBanc||Downgrades||Overweight||Sector Weight|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.