UPDATE: Jefferies Reiterates Hold Rating, Lowers PT on Koppers Holdings on Expected Challenges Ahead

In a report published Monday, Jefferies analyst Laurence Alexander reiterated Hold rating on

, but lowered the price target from $44.00 to $40.00. In the report, Jefferies noted, “While the Osmose acquisition appears to thread the needle of attractive economics (post-synergies) adding significant addressable growth opportunities, the disappointing results in Q1 and risks to the timing of JV accretion suggest Koppers likely faces 1-2 more tough quarters. We reiterate our Hold rating.” Koppers Holdings closed on Friday at $35.86.