Myers Industries price target raised to $30 from $22 at KeyBanc

KeyBanc analyst Steve Barger raised the firm’s price target on Myers Industries to $30 from $22 and keeps an Overweight rating on the shares. The firm came away from Myers’ Investor Day event with a sense of a positive inflection in the evolution of Myers Industries, the analyst tells investors in a research note. The firm thinks the acquisition of Signature Systems is an attractive, margin-accretive business, and its addition should make the portfolio less cyclical, and its strategy shift toward growing its premium-branded products with attractive financial profiles will be able to more than offset continued pressures in its consumer-facing businesses, KeyBanc adds.