Market Overview

Oppenheimer Removes Arch Chemicals Rating, PT

Share:

Oppenheimer removed its Arch Chemicals (NYSE: ARJ) Outperform rating and $42 price target in a research report published today.

In the report, Oppenheimer states, "In a deal we view as fair to ARJ shareholders, the company agreed to be acquired for $47.20/share by Swiss chemical maker Lonza, a 12% premium to Friday's closing price and a 36.7% premium to the 30-day average price. We do not expect any regulatory or shareholder issues. Lonza expects to begin the tender offer July 15. Move to Not Rated from Outperform and remove $42 price target."

Shares of Arch Chemicals were trading at $47.32 at the time of posting, up 12.21% from Friday's market close.

Posted-In: OppenheimerAnalyst Color Analyst Ratings

 

Related Articles (ARJ)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
FTVMorgan StanleyMaintains70.0
ROKMorgan StanleyMaintains142.0
WWEFBN SecuritiesUpgrades100.0
SWNCapital One FinancialUpgrades
AEISCowen & Co.Downgrades57.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

If the US Defaults, How Will that Affect the Dollar?

Head And Shoulders Pattern Playing Out On S&P 500 Chart