BMO Capital analyst John McNulty raised the firm’s price target on Ingevity (NGVT) to $62 from $56 and keeps an Outperform rating on the shares after its Q2 earnings beat. Despite the solid 21% jump in the stock, the firm sees significant upside ahead for Ingevity as it has reached the inflection point in its earnings and free cash flow, the analyst tells investors in a research note.
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