Innospec initiated with a Buy at Freedom Capital

Freedom Capital initiated coverage of Innospec (IOSP) with a Buy rating and $93 price target calling the company an “undervalued” specialty chemicals maker. The firm said it sees potential upside from either new product offerings or opportunistic M&A. Freedom Capital noted that the stock’s recent underperformance along with its bottoming earnings “create an attractive risk-reward tradeoff.”