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Investing.com - Mizuho initiated coverage on Solstice Advanced Materials Inc. (NASDAQ:SOLS) with a Neutral rating and a $54.00 price target, representing approximately 10% upside potential. The stock currently trades at $48.74, within its 52-week range of $44.05-$61.00.
The research firm identified Solstice Advanced Materials as a leading fluorochemicals producer, particularly in refrigerants, with low leverage of approximately 1.5x and no major liabilities related to PFAS or other issues. With a market capitalization of $7.74 billion, the company has posted a 6.54% price return over the past week.
Despite the company’s strong business fundamentals and balance sheet, Mizuho expressed concern about potential selling pressure from Honeywell shareholders receiving the distribution of SOLS shares.
The firm also noted that the second half of 2025 pro forma adjusted EBITDA appears "unusually weak," with no detailed breakdown between September and December quarters yet provided.
While Chemours (NYSE:CC) was identified as the closest business competitor to Solstice, Mizuho suggested that Element Solutions (NYSE:ESI) should be considered the closest valuation peer for the newly covered company. SOLS maintains a healthy trading volume with 3.88 million shares changing hands daily on average.
In other recent news, Solstice Advanced Materials Inc is set to join the S&P 500 index, as announced by S&P Dow Jones Indices. This change will occur before the market opens on October 31, following the completion of Solstice Advanced Materials’ spinoff from Honeywell International Inc, which is expected on October 30. Honeywell International will continue to hold its positions in both the S&P 500 and S&P 100 indices after the transaction. This inclusion in the S&P 500 marks a significant development for Solstice Advanced Materials, highlighting its growing prominence in the market. Meanwhile, CarMax Inc will be removed from the benchmark index as part of these changes. These recent developments reflect ongoing adjustments within the S&P 500, impacting the composition of this key market index.
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