Barclays Remains a Buy on Cabot (CBT)


In a report released yesterday, Michael Leithead from Barclays maintained a Buy rating on Cabot (CBT), with a price target of $35.00. The company’s shares closed last Monday at $26.25.

According to TipRanks.com, Leithead is a 2-star analyst with an average return of -2.0% and a 50.0% success rate. Leithead covers the Consumer Goods sector, focusing on stocks such as Westlake Chemical PRN, Berry Global Group, and Westlake Chemical.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cabot with a $37.50 average price target, representing a 48.9% upside. In a report issued on March 18, UBS also maintained a Buy rating on the stock with a $41.00 price target.

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Based on Cabot’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $727 million and net profit of $41 million. In comparison, last year the company earned revenue of $821 million and had a net profit of $69 million.

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Cabot Corp. is a global specialty chemicals and performance materials company. Its products are rubber and specialty grade carbon blacks, specialty compounds, fumed metal oxides, activated carbons, inkjet colorants, aerogel, cesium formate drilling fluids, and fine cesium chemicals. The company operates through the following segments: Reinforcement Materials, Performance Chemicals, Purification Solutions, and Specialty Fluids. The Reinforcement Materials segment involves the rubber blacks and elastomer composites product lines. The Performance Chemicals segment combines the specialty carbons and compounds and inkjet colorants product lines into the specialty carbons and formulations business. The Purification Solutions segment refers to the activated carbon business and the specialty fluids segment. The Specialty Fluids segment represents the rental of cesium formate. Cabot was founded by Godfrey Lowell Cabot in 1882 and is headquartered in Boston, MA.

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