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Stock Market & Financial Investment News

News Breaks
February 14, 2014
06:18 EDTCBTCabot upgraded to Overweight from Neutral at JPMorgan
JPMorgan upgraded Cabot citing valuation and the company's strong earnings growth. The firm raised its price target for shares to $55 from $49.
News For CBT From The Last 14 Days
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June 30, 2015
09:10 EDTCBTCabot CEO: Company ‘disappointed’ with Supreme Court MATS ruling
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June 29, 2015
16:22 EDTCBTOn The Fly: Top stock stories for Monday
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14:05 EDTCBTCabot tumbles, levels to watch
Shares are down over 5% to $38.57 at time of writing. Initial support is at $38.20. Support below that level is at $37.64. Resistance is at $39.72.
13:39 EDTCBTCabot price target lowered to $52 from $56 at Jefferies after SCOTUS ruling
Jefferies said that the Supreme Court objection to the EPA's Mercury Admissions and Toxic Standard likely delayed a higher pollutants standard by several years. Cabot (CBT), which produces activated carbon used to reduce mercury, will incur an impairment charge of about $450M on the news, the firm noted, while lowering its price target on the shares to $52 from $56. The news removes a source of bromine growth for Albemarle (ALB), the firm said, but it doesn't believe its estimates need to be cut in reaction, citing demand from state emission reduction laws. Jefferies has Buy ratings on Albemarle and Cabot.

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