AdvanSix price target lowered to $48 from $57 at Stifel

Stifel lowered the firm’s price target on AdvanSix to $48 from $57 and keeps a Buy rating on the shares. The firm is lowering estimates for AdvanSix as market conditions have grown more unfavorable, but given it sees solid cash conversion providing a 2024 free cash flow yield of about 12% the firm says it would “comfortably maintain our Buy rating as valuation remains disconnected from the earnings cycle.”