Jefferies Upgrades OMN, Raises PT To $11

Jefferies has upgraded its rating from Hold to Buy and raised its price target from $8.25 to $11 on Omnova Solutions OMN. In its report, Jefferies writes, “Structural improvements at OMNOVA Solutions suggest investors can obtain a favorable risk/reward coupled with a potential significant multiple expansion as a call option on a recovery in construction markets. We are raising our price target $2.50 to $11 (33% potential upside) and upgrading OMNOVA to a Buy.” OMN closed Friday at $8.50.