UPDATE: KeyBanc Capital Markets Initiates Luxfer Holdings at Buy; Niche Value with Growth Potential

KeyBanc Capital Markets initiated coverage on Luxfer Holdings

with a Buy rating and a $14 price target. KeyBanc Capital Markets noted, "We are initiating coverage of Luxfer Holdings PLC (LXFR-NYSE), a global producer of specialized materials and pressure cylinders, with a BUY rating. Our $14 price target offers over 30% upside vs. the recent closing price of $10.70. We believe the Company's niche array of products, targeted secular growth markets, operational execution momentum and sizable valuation discount to the KBCM specialty materials peer group offer a compelling buying opportunity for longer-term GARP small cap basic materials investors. Further, we believe LXFR's dividend yield of 3.7% vs. the peer group of 1.2% may provide a nice floor against meaningful downside risk." Luxfer Holdings closed at $10.70 on Friday.