PolyOne price target raised to $45-$47 from $40-$42 at Wells Fargo Wells Fargo increased its price target on PolyOne after attending the company's analyst dinner, as the firm now has more confidence in the company's ability to meet its 2015 targets. The firm keeps an Outperform rating on the shares.
PolyOne acquires certain TPE assets from Kraton Performance PolyOne (POL) announced it has acquired certain technologies and assets from Kraton Performance Polymers (KRA). The two companies also entered into a supply agreement, whereby Kraton will provide PolyOne certain raw materials used in production for the acquired business. The end markets utilizing the acquired technologies span new and fast growing applications in adhesive and removable protective films, as well as existing applications served by PolyOne, such as packaging, medical devices and personal care products. The purchase price of $72M represents a multiple of 9x EBITDA.