BMO Capital analyst John McNulty raised the firm’s price target on Ecovyst (ECVT) to $14 from $10 and keeps an Outperform rating on the shares. The company’s sale of its AM&C business is a positive catalyst for the stock as it removes Ecovyst’s more volatile business at a chunky valuation, streamlines the portfolio, affords Ecovyst significant cash to deliver and return cash to shareholders while also demonstrating how undervalued the stock is to public investors, the analyst tells investors in a research note.
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