Jefferies Raises KOP Rating To Buy From Hold

Jefferies recently hosted meetings with Koppers Holdings KOP management and said the company should exit trough conditions by mid-2011. “We are raising 2011E by $0.35 to $3.25 and lowering 2012E by $0.30 to $3.00,” Jefferies writes. “We are setting a 12 month target of $42 and raising our rating to Buy from Hold.” Koppers Holdings currently trades at $25.74.