Oppenheimer Reiterates Oupterform and PT of $46 on Koppers Holdings

Oppenheimer reiterates its Outperform rating and PT of $46 on Koppers Holdings KOP after a meeting with its management. Oppenheimer remains optimistic about Koppers' long term outlook. In a research report published today, Oppenheimer states, "we remain positive on this attractively valued stock, with the company's potential to raise prices and utilizations. Furthermore, management suggested it could use last year's Netherlands acquisition as a vehicle to lower KOP's overall tax rate to the low-30%s, vs. high 30%s currently. This could boost EPS/FCF another $0.25/$5.5M." On Tuesday, Koppers Holdings lost 2.05% to close the day at $37.19.