Dynamic Materials +5% as Stifel starts coverage at Buy

Dynamic Materials (BOOM +5.1%) initiated with a Buy rating and $29 price target at Stifel, which believes the gap between strong upstream and weak downstream spending is closing.

Downstream capex benefits from inexpensive feedstocks relative to finished products, and Stifel sees a similar situation developing as refining, chemical, petrochemical and liquefied natural gas producers take advantage of inexpensive U.S. feedstocks.

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