Cabot downgraded to Hold on valuation at Deutsche Bank

Deutsche Bank downgraded Cabot to Hold from Buy with a price target of $95, up from $88. The shares are up 30% since February and the stock’s valuation premium is at historical levels, the analyst tells investors in a research note. The firm cites valuation for the downgrade with only “modest 3% upside potential” to its new price target. It believes near-term upside in the shares is limited.