Ferro downgraded to Neutral from Overweight at JPMorgan JPMorgan downgraded Ferro (FOE) as it is unsure whether A. Schulman (SCHLM) will make a higher offer for Ferro, or if Ferro would accept such an offer. The firm also believes that Ferro's price would be at risk if the bid is rescinded, in light of the stock's current valuation. Target $6.50.
A. Schulman sees FY18 adjusted EPS $4.50-$4.75 Sees FY18 sales growing to $3.6B-$3.7B from FY14 actual of $2.5B. Sees FY18 adjusted EPS growing to $4.50-$4.75 from FY14 actual of $2.36. Long-term guidance issued in presentation slides.