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BB&T Capital Markets Reiterates PolyOne (POL) Buy Rating

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BB&T Capital Markets Reiterates PolyOne POL Buy Rating

BB&T Capital Markets analysts Frank J. Mitschvand Sabina Chatterjee reiterated their Buy rating for shares of PolyOne Corporation (NYSE: POL), with a price target of $12.

The analysts hosted PolyOne Corporation executives at the BB&T Capital Markets 2010 Commercial & Industrial Conference.

They said 1st quarter 2010 guidance of 15 cents earnings per share, on revenue of $600 million was well above consensus estimates.

They also said that the positive outlook was fueled by demand in Asia, as well as strength in other markets, including Europe, which many competitors currently see as a weaker regional market.

The BB&T Capital Markets analysts wrote, "with the year off to a strong start even absent a housing recovery, we believe POL is well positioned to take advantage of improving demand due to its execution in transforming itself into more of a specialty player. Gross margins have increased significantly of late, and another uptick is expected in 2010. Our $12 price target reflects a 6.5x EV/EBITDA multiple on our 2011 outlook."

 

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Posted-In: BB&T Capital Markets Frank J. Mitschvand Sabina Chatterjee PolyOne CorporationAnalyst Color News Guidance Markets Analyst Ratings

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