Orion stock price target cut, buy rating held despite challenges By Investing.com
On Thursday, Jefferies analysts adjusted their outlook on shares of Orion Engineered Carbons S.A. (NYSE: NYSE:), reducing the price target from $26.00 to $24.00, while maintaining a Buy rating on the stock. Currently trading at $15.09, the stock sits near its 52-week low of $14.07, though InvestingPro data shows analyst targets ranging from $18 to $26, suggesting potential upside.
The revision follows Orion Engineered’s recent announcement that its projected EBITDA for 2024 will be slightly below the initial forecast of $305-$315 million, citing several headwinds affecting its business.
The company attributed the revised EBITDA expectation to a combination of emerging foreign exchange challenges, severance costs, and weaker demand…
