Myers Industries price target raised by $1 at KeyBanc, here’s why

KeyBanc raised the firm’s price target on Myers Industries to $22 from $21 and keeps an Overweight rating on the shares. After hosting virtual meetings with Myers, the firm says it thinks the company’s story is misunderstood by investors and that shares could see upside in a cyclical recovery. While KeyBanc believes material conversion stories can be difficult to understand, Myers is a market leader in its niche plastic products and a leader in its tire repair equipment distribution business.