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Investing.com - BMO Capital initiated coverage on Solstice Advanced Materials (NASDAQ:SOLSV) with an Outperform rating and a $70.00 price target on Tuesday.
The research firm highlighted that the recent split of Solstice from Honeywell presents materials investors with an opportunity to invest in what it describes as a "high-quality stable growth company."
BMO Capital noted that Solstice holds industry-leading positions across a diverse portfolio including low-GWP refrigerants/propellants, copper manganese sputtering targets for semiconductors, and uranium processing/storage.
The firm pointed out that Solstice’s portfolio maintains above-average margins and returns, and should deliver high single-digit to low double-digit EPS growth with potential upside.
While BMO Capital acknowledged that the split from Honeywell may cause some share turnover initially, it expects Solstice to ultimately achieve a "high quality" valuation that justifies the $70 price target.
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