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UPDATE: JP Morgan Downgrades Minerals Technologies to Neutral on Valuation

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JP Morgan downgraded Minerals Technologies (NYSE: MTX) from Overweight to Neutral and raised the price target from $39.00 to $43.00.

JP Morgan noted, "We believe MTX's unleveraged balance sheet, its diligence in reducing costs and optimizing capital spending, and its success in improving returns on capital have led to the relative outperformance over the past 12 months. The shares, however, have pierced our previous December 2013 price target of $39, and the current valuation of 7.1x EV/EBITDA (pension adjusted) reflects a fair valuation for MTX, in our view."

Minerals Technologies closed at $42.34 on Tuesday.

Latest Ratings for MTX

DateFirmActionFromTo
Oct 2014First AnalysisDowngradesOverweightEqualweight
Mar 2014First AnalysisUpgradesEqualweightOverweight
Aug 2013KeyBancInitiates Coverage onHold

View More Analyst Ratings for MTX
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Downgrades Analyst Ratings

 

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