Jefferies Provides Color on WR Grace

Jefferies provided color on WR Grace GRA. In a research report published today, Jefferies commented on the company's recent acquisition. In the report, Jefferies states, “Grace has acquired privately owned De Neef Conchem Group, a producer of waterproofing and concrete protection products. While terms were not disclosed, we estimate the acquisition was likely in the $60m-$80m range or roughly 6.0x-8.0x our estimate of 2011E EBITDA of $10m.” At the moment, Jefferies has a Buy rating and a price target of $56 placed on the company's stock. On Tuesday, WR Grace added 0.68% to its value to end the day at $47.28.