Piper Jaffray Raises PolyOne PT to $18, Reiterates Overweight Rating (POL)

Piper Jaffray reiterates its PolyOne POL Overweight rating, raising its PT from $17 to $18 today. In the report, Piper Jaffray states, "PolyOne's recent purchase of Uniplen is a key new opportunity for the globalization of the company's specialty polymer solutions highlighted in our November 23rd note. Uniplen opens up the fast growing Brazil market which was not previously viable due to high import tariffs. PolyOne now has the capability to serve existing multinational customers in South America with a full range of polymer solutions which should allow for several times Uniplen's current $34M annual revenue in the years ahead. We are rolling out CY12 estimates and increasing our PT to $18 due to the $0.05+ of EPS we see Uniplen adding in CY12." PolyOne shares are at $13.38, -0.89% from Thursday's market close.