KeyBanc lowered the firm’s price target on Ecovyst (ECVT) to $11 from $12 on softer earnings forecast, better reflecting current trends and company guidance. The firm keeps an Overweight rating on the shares. KeyBanc notes the company’s second half of the year is tracking below expectations, largely due to unplanned outages at refinery customers. KeyBanc takes a glass-half-full approach as EBITDA is in line with prior expectations ex. outages.
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