UPDATE: Jefferies Reiterates Hold Rating, Lowers PT on Koppers Holdings on Expected Challenges Ahead - Koppers Hldgs (NYSE:KOP)

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In a report published Monday, Jefferies analyst Laurence Alexander reiterated Hold rating on

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Koppers Holdings

(NYSE: KOP), but lowered the price target from $44.00 to $40.00.In the report, Jefferies noted, “While the Osmose acquisition appears to thread the needle of attractive economics (post-synergies) adding significant addressable growth opportunities, the disappointing results in Q1 and risks to the timing of JV accretion suggest Koppers likely faces 1-2 more tough quarters. We reiterate our Hold rating.”Koppers Holdings closed on Friday at $35.86.