RE:Analysts lowerPossibleidiot01 wrote:
Followup on Raymond James.
Globe says Bastien advises buying more Neo Performance
2024-03-19 08:52 ET - In the News
The Globe and Mail reports in its Tuesday, March 19, edition that while Neo Performance Materials fourth quarter results disappointed, capping a "challenging" 2023, Raymond James analyst Frederic Bastien thinks an inflection point is approaching. The Globe's David Leeder writes in the Eye On Equities column that Mr. Bastien has reaffirmed his "outperform" recommendation for Neo Performance. Mr. Bastien gave his share target a $2 trim to $11. Analysts on average target the shares at $10.90. Mr. Bastien says in a note: "Neo Performance Materials' 2023 results showed the firm is navigating waters made choppy by shifting consumer behaviors in China, the dragging Ukraine-Russia conflict and still fragile auto and semiconductor supply chains. None of these dynamics take our attention away from Neo's attractive long-term secular prospects, strong balance sheet, healthy dividend yield and attractive valuation. With earnings poised to improve and rare earth prices about bottom, we believe now is the right time for investors to be adding to positions in the stock." The Globe reported on Nov. 15, 2022, that Mr. Bastien had reiterated his "outperform" call on Neo Performance. The shares were then worth $8.98.