Piper Sandler analyst Charles Neivert raised the firm’s price target on AdvanSix to $54 from $52 and keeps an Overweight rating on the shares. The analyst sees "significant and durable" shifts in global feedstock costs favoring U.S producers. Cost advantages for U.S. chemical producers have widened in recent months and will lead to a "synergistic expansion of margins," the analyst tells investors in a research note. The firm sees upside to earnings estimates from reduced feedstock costs, lower utility costs and the improving operating rates generated by export opportunities.
Published first on TheFly
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