KeyBanc Capital Initiates Coverage On Quaker Chemical: Buy, $50 PT

KeyBanc Capital initiated coverage on Quaker Chemical KWR with a Buy rating and $50 price target in a research report published today. In the report, KeyBanc Capital states, " Our BUY rating is underpinned by our belief that KWR: 1) is a quality specialty chemical company that has largely completed its turnaround efforts and is poised to generate 10%+ annual EPS growth over the next three years; 2) maintains a diverse product portfolio with a good mix of secular and cyclical growth drivers; 3) benefits from leading market positions and favorable industry dynamics; 4) can leverage a much improved cost structure, a healthy balance sheet and an ample liquidity profile; and 5) represents an attractive investment proposition considering current valuation levels and a relatively unknown/underappreciated story." Shares of Quaker Chemical closed at $40.88 today, up 3.62% from Friday's market close.