Wells Fargo raised the firm’s price target on Avient (AVNT) to $59 from $55 and keeps an Overweight rating on the shares. The firm is incrementally positive on the stock after the company’s investor day presentation, which highlighted a strategy focused on organic growth and margin expansion, the analyst tells investors in a research note. Avient’s margins should be structurally higher as margins have increased for its Clariant business and Dyneema is a 30%+ EBITDA margin business, the firm adds.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on AVNT:
- Avient Corporation Reports Strong Q3 2024 Results
- Avient reports Q3 adjusted EPS 65c, consensus 63c
- Avient narrows FY24 adjusted EPS view to $2.63-$2.67 from $2.55-$2.70
- AVNT Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Avient downgraded to Neutral from Buy at Seaport Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
