Market Overview

UPDATE: Monness Crespi Hardt Downgrades W.R. Grace to Neutral on Share Appreciation

Related GRA
5 U.S. Stocks Able To Withstand September Market Swings
Goldman Sachs Adds W.R. Grace & Co To Conviction Buy List - Expresses 'greater confidence' Of Approaching Pricing Cycle In Catalysts Segment, Says Construction Products Segment Price Cycle In 'infancy'

Monness Crespi Hardt downgraded W.R. Grace (NYSE: GRA) from Buy to Neutral and raised the price target from $67.00 to $79.00.

Monness Crespi Hardt noted, "We are downgrading GRA to Neutral as we see limited near term upside after the shares' significant appreciation over the past 12-months (30+%). Our new target of $79, represents single-digit upside from here. We continue to believe in GRA's positive story (great Catalyst business, Construction rebound, & bankruptcy emergence), but believe that the shares are already reflecting much of the near term positives. GRA's guidance for 2013 EBITDA growth of 8-12% seems to already be reflected in the shares' 9.5x EV/EBITDA multiple."

W.R. Grace closed at $75.59 on Wednesday.

Latest Ratings for GRA

Jul 2015Tigress FinancialDowngradesBuyNeutral
Jun 2015KeyBancMaintainsOverweight
Mar 2015JefferiesMaintainsBuy

View More Analyst Ratings for GRA
View the Latest Analyst Ratings

Posted-In: Monness Crespi HardtAnalyst Color Downgrades Analyst Ratings


Related Articles (GRA)

Get Benzinga's Newsletters