Rogers ( NYSE: ROG ) on Tuesday was rated as a Buy by analysts at B. Riley Securities who resumed research coverage of the maker of electronics materials.
The coverage had been suspended while chemical company DuPont de Nemours ( DD ) sought to acquire Rogers ( ROG ) in a deal that had received all required regulatory approvals except from the State Administration for Market Regulation of China.
“Following a one-year DuPont ( DD ) deal-related absence, we resume coverage with a positive 12-month thesis predicated on a return to mega-trend growth, gross-margin acceleration and rising operating cash flow/free cash flow,” Craig Ellis, analyst at B. Riley, said in a February 14 report.
B. Riley set a price target of $180 a share on Rogers ( ROG ), based on a price-to-earnings multiple of 27.5 times.
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Rogers rated Buy as B. Riley resumes research coverage