UPDATE: KeyBanc Capital Markets Initiates Innospec at Buy on Positioning, Acquisition Outlook
KeyBanc Capital Markets initiated coverage on Innospec (NASDAQ: IOSP) with a Buy rating and a $40 price target.
KeyBanc Capital Markets said, "We are initiating coverage of Innospec Inc. (IOSP-NASDAQ) with a BUY rating and $40 price target. Its leading market position in its core Fuel Additives business offers a stable earnings stream and returns, while a solid position as a producer of surfactants for the personal care market adds to its attractive returns. On top of this, we believe that IOSP possesses an opportunity to grow its oilfield chemicals business while also expanding its personal care business both organically and through bolt-on acquisitions.
Innospec closed at $29.80 on Thursday.
Latest Ratings for IOSP
|Apr 2016||KeyBanc||Upgrades||Sector Weight||Overweight|
|Oct 2015||Monness, Crespi, Hardt||Downgrades||Neutral|
|May 2015||Singular Research||Initiates Coverage on||Buy|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.