UPDATE: Longbow Upgrades Chemtura to Buy on Margin Enhancement and Portfolio Evolution

Longbow raised its rating on Chemtura

from Neutral to Buy with a $26 price target. Longbow commented, "We are upgrading our investment rating of CHMT to BUY from NEUTRAL with a 12-month target price of $26 on greater confidence in management's ability to outperform expectations in the near-term. Sustainable improvements in AgroSolutions, a compelling strategic rationale for the Solaris deal and expectations of further growth in Engineered Products, combined with further portfolio optimization should generate meaningful shareholder value expansion over a 12-24 month period." Chemtura closed at $20.44 on Wednesday.