Jul. 13 at 10:46 AM
$SOLS $ESI
Solstice Advanced Materials upgraded to Buy from Neutral at UBS
UBS analyst Joshua Spector upgraded Solstice Advanced Materials (SOLS) to Buy from Neutral with a price target of
$78, down from
$88. The Element Solutions (ESI) acquisition is expected to improve Solstice's financial mix, support more than 10% annual EBITDA growth and roughly 18% EPS growth, enable rapid deleveraging after a temporary increase in leverage, and leave the stock with more than 25% upside despite near-term deal uncertainty, the analyst tells investors in a research note.