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UPDATE: KeyBanc Capital Markets Initiates Innospec at Buy on Positioning, Acquisition Outlook

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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

DateFirmActionFromTo
Dec 2016Monness Crespi HardtDowngradesBuyNeutral
Apr 2016KeyBancUpgradesSector WeightOverweight
Oct 2015Monness Crespi HardtDowngradesNeutral

View More Analyst Ratings for IOSP
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Posted-In: KeyBanc Capital MarketsAnalyst Color Initiation Intraday Update Analyst Ratings

 

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