Market Overview

UPDATE: KeyBanc Downgrades Materion Corp. to Hold, Removes PT

Share:

In a report published Monday, KeyBanc downgraded its rating on Materion Corp. (NYSE: MTRN) from Buy to Hold, and removed its $30.00 price target.

KeyBanc noted, “We are downgrading shares of Materion Corporation (MTRN-NYSE) to HOLD from BUY as investors have begun to better acknowledge the Company's progress with Performance Alloys mix management, end market diversification, and potential 2013 GAAP EPS improvement from reduced consolidation/beryllium start-up headwinds. Since our upgrade on November 29, 2011, MTRN shares have returned 30% vs. the S&P 500 and the Steel Market Vectors Index (SLX-NYSE) of +26% and +3%, respectively. Risk-reward at present levels also appears more balanced via potential for an extended recovery in consumer electronics (25-30% of value-added sales), including malaise around growth momentum at Apple (AAPL-NASDAQ; Not Covered), a more challenging U.S. defense market (10-15% of value-added sales), likely destocking in oil/gas markets, and more tepid global macro momentum.”

Materion Corp. closed on Friday at $27.49.

Latest Ratings for MTRN

DateFirmActionFromTo
Jun 2020KeyBancMaintainsOverweight
Apr 2020KeyBancUpgradesSector WeightOverweight
Mar 2020Sidoti & Co.UpgradesNeutralBuy

View More Analyst Ratings for MTRN
View the Latest Analyst Ratings

 

Related Articles (MTRN)

View Comments and Join the Discussion!

Posted-In: KeyBancAnalyst Color Downgrades Analyst Ratings

Latest Ratings

StockFirmActionPT
PRTKHC Wainwright & Co.Maintains19.0
MCRBHC Wainwright & Co.Maintains41.0
EOLSHC Wainwright & Co.Maintains8.0
PRTSSmall Cap Consumer ResearchMaintains16.0
FIXXHC Wainwright & Co.Maintains30.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
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.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
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