Piper Sandler last night upgraded AdvanSix to Overweight from Neutral with a price target of $32, up from $26. The firm cites the earnings benefit of the ammonium sulfate business as well as the relatively small impact of tariffs and the nylon, nylon intermediate and chemical intermediate businesses for the upgrade. Piper sees AdvanSix's earnings holding up better than most other chemical shares. AdvanSix's EBITDA is "far from a peak level," making the shares "significantly undervalued," Piper contends.
