UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on PolyOne Corporation

In a report published Friday, Jefferies & Company reiterated its Buy rating on PolyOne Corporation POL, and raised its price target from $22.00 to $24.00. Jefferies noted, “A recent discussion with management helped reinforce our view that the Spartech acquisition represents a significant opportunity for PolyOne, underscored by synergies ($0.50/share tailwind by 2015), broader polymer solutions capabilities, cultural fit (Spartech's transformation ~2 years behind PolyOne's), and several growth levers.” PolyOne Corporation closed on Thursday at $19.90.