Cabot price target lowered to $80 from $87 at UBS

UBS lowered the firm’s price target on Cabot to $80 from $87 and keeps a Neutral rating on the shares. The company delivered “solid” Q1 results with a key positive being 10% Y/Y volume growth in Performance Chemicals, but volumes are expected to remain choppy given the ongoing uncertainty in end market demand, particularly China, the analyst tells investors in a research note. With the carbon black pricing cycle expected to slow,, investor expectations now shift back to the trajectory of volume growth, the firm added.