Solstice Advanced Materials initiated with a Buy at UBS

UBS initiated coverage of Solstice Advanced Materials (SOLS) with a Buy rating and $62 price target The firm believes the company has a “unique collection” of businesses, with over 60% of its portfolio exposed to “secular or regulatory driven growth” in refrigerants, electronics, and nuclear fuel. It believes Solstice’s valuation will expand as the company beats “conservative initial expectations.”