Barclays analyst Michael Leithead maintained a Buy rating on Cabot (CBT – Research Report) on February 1 and set a price target of $75.00. The company’s shares closed last Thursday at $62.13, close to its 52-week high of $65.25.
According to TipRanks.com, Leithead is a 1-star analyst with an average return of -0.2% and a 59.2% success rate. Leithead covers the Basic Materials sector, focusing on stocks such as Westlake Chemical, Orion Engineered, and Huntsman.
Currently, the analyst consensus on Cabot is a Strong Buy with an average price target of $73.80, implying a 17.1% upside from current levels. In a report issued on February 1, UBS also maintained a Buy rating on the stock with a $71.00 price target.
The company has a one-year high of $65.25 and a one-year low of $45.50. Currently, Cabot has an average volume of 326K.
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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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