Market Overview

UPDATE: BMO Capital Markets Reiterates Outperform Rating, Lowers PT on CARBO Ceramics

Related CRR
20 Biggest Mid-Day Losers For Thursday
Mid-Morning Market Update: Markets Mostly Higher; Bank of America Tops Q2 Expectations
CARBO Ceramics misses by $0.09, misses on revenue (Seeking Alpha)

In a report published Friday, BMO Capital Markets reiterated its Outperform rating on CARBO Ceramics (NYSE: CRR), but lowered its price target from $130.00 to $110.00.

BMO Capital Markets noted, “At 10x 2013E EPS, CARBO's shares remain considerably below their historical valuation multiple of roughly 22x forward earnings. We note that this is the first q-o-q earnings growth realized by the company since Q3/11. While one quarter does not make a trend, we believe that despite management's cautious outlook for the back half of 2012, modest increases in volumes and solid operational performance from the Falcon business will provide an offset to pricing pressures.”

CARBO Ceramics closed on Thursday at $68.48.

Latest Ratings for CRR

Jan 2016GMP SecuritiesInitiates Coverage onBuy
Dec 2015KLR GroupInitiates Coverage onHold
Nov 2015GuggenheimUpgradesNeutralBuy

View More Analyst Ratings for CRR
View the Latest Analyst Ratings

Posted-In: BMO Capital MarketsAnalyst Color Price Target Analyst Ratings


Related Articles (CRR)

View Comments and Join the Discussion!