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JP Morgan resumed its coverage on Cabot Corporation
CBT with a Neutral rating and reduced its price target from $43 to $41.
JP Morgan said, "We resume coverage of Cabot Corporation following a period of restriction with a Neutral rating and a December 2013 price target of $41 (previously a Neutral rating and December 2012 $43 price target). We prefer Georgia Gulf and Ashland to Cabot at this juncture in the small to mid-cap chemical sector because of their sizeable free cash flow generation, low valuations, and raw material advantages stemming from exposure to domestic natural gas feedstocks."
Cabot Corporation closed at $36.55 on Wednesday.
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