Solstice Advanced Materials downgraded to Hold at Vertical Research on valuation

As previously reported, Vertical Research downgraded Solstice Advanced Materials (SOLS) to Hold from Buy with a $90 price target. While stating that Solstice is “off to an exceptionally strong start” in its first six-plus months as a publicly traded company since the spin out of Honeywell (HON) last October, the firm calls the valuation “still reasonable, yet no longer compelling” among specialty chemical companies in its coverage.