Shares of Orion Engineered Carbons SA (OEC) surged 7.34% in pre-market trading on November 11, 2024, after JPMorgan analyst upgraded the stock to "Overweight" from "Neutral" and raised the price target to $21 from $20.
The positive analyst action from JPMorgan reflects the overall bullish sentiment towards OEC among Wall Street analysts. According to data compiled by Capital IQ, OEC has an average rating of "Outperform" from analysts, with price targets ranging from $18 to as high as $26.
The pre-market rally in OEC shares suggests investors are responding favorably to the improved outlook and higher price target set by JPMorgan, as well as the broader positive analyst coverage for the stock.
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