US: Specialty chemical price targets raised

On 1 April Lehman Brothers raised its price targets on specialty chemical stocks due to improved earnings outlooks and heightened confidence in existing estimates. But Lehman said a US industrial econ…

On 1 April Lehman Brothers raised its price targets on specialty chemical stocks due to improved earnings outlooks and heightened confidence in existing estimates. But Lehman said a US industrial economic recovery is likely to be difficult, with month-to-month false starts and continued stock-price volatility. Lehman raised its 12-month target to US$ 80 from US$ 74 for OM Group, whose stock was down 43 cents at US$ 71.87 in morning New York Stock Exchange trade. It upgraded its Praxair view to US$ 71 from US$ 65; the stock was down US$1 .30 at US$ 58.50. Lehman also raised price targets for Air Products and Chemicals Inc., Crompton Corp., Engelhard Corp., PolyOne Corp., Valspar Corp. and Rohm and Haas Co.