BMO Capital analyst John McNulty lowered the firm’s price target on Ingevity to $42 from $45 and keeps a Market Perform rating on the shares after its Q2 earnings miss. The company continues to take steps to clear the decks in the PC business and set a foundation on which it can see growth, though with question marks around the potential for PC earnings in 2025, the stock’s the risk/reward is relatively neutral, the analyst tells investors in a research note.
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Read More on NGVT:
- Ingevity price target lowered to $50 from $58 at Oppenheimer
- Ingevity Announces Crossett Plant Closure and Restructuring Plans
- Ingevity announces more steps to improve Performance Chemicals profitability
- Ingevity narrows FY24 revenue view to $1.4B-$1.5B from $1.4B-$1.55B
- Ingevity reports Q2 adjusted EPS $1.01, consensus $1.05
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