KeyBanc Upgrades Harsco Corporation (HSC) to Overweight

KeyBanc upgraded Harsco Corporation (NYSE: HSC) from Sector Weight to Overweight with a price target of $18.50. The change follows meetings with management.

Analyst Jeffrey D. Hammond said, "Following our meetings with HSC management on the road, we have increased confidence in the Company's internal levers, which we believe offer a compelling buying opportunity for deep value investors. While known challenges around steel and oil & gas fundamentals remain at large, we see significant valuation support from our SOTP analysis and an intriguing entry point given the operational improvement runway in Project Orion, NT catalyst in HSC's ability to refinance its debt and committed management action toward optimizing the
portfolio. Based on our earnings bridge assessment and SOTP valuation, coupled with the stock's current 7% dividend yield, we are upgrading the shares to Overweight with an $18.50 price target."

For an analyst ratings summary and ratings history on Harsco Corporation click here. For more ratings news on Harsco Corporation click here.

Shares of Harsco Corporation closed at $11.81 yesterday.

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