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The fundamental outlook is encouraging, while valuation is far from compelling, but fair on a relative basis.
Chemicals 3Q Earnings Preview; Signal vs. Noise • Look through a noisy 3Q to focus on 2018E.It has been an eventful quarter, hasn’t it? Since our last preview we’ve had three hurricanes wreaking havoc, earthquakes in Mexico, ongoing M&A activity, and an appreciably weaker USD despite heightened geopolitical tensions. As a result, we have adjusted estimates for the majority of stocks in our coverage, either previously or herein. For investors though, these sources of “noise” will render 3Q...
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