Market Overview

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

Share:
Related CRR
Mid-Afternoon Market Update: Dow Gains Over 250 Points; Catalyst Pharmaceuticals Shares Slide
Mid-Day Market Update: Dow Jumps Over 200 Points; Amazon Shares Down On Earnings Miss
CARBO Ceramics' (CRR) CEO Gary Kolstad on Q1 2016 Results - Earnings Call Transcript (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

DateFirmActionFromTo
Jan 2016GMP ResearchInitiates Coverage onBuy
Dec 2015KLR GroupInitiates Coverage onHold
Nov 2015Guggenheim SecuritiesUpgradesNeutralBuy

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!