UPDATE: Goldman Sachs Initiates Coverage on Taminco with Buy Rating, $22 PT on Multiple Positive Factors

In a report published Tuesday, Goldman Sachs analyst Robert Koort initiated coverage on Taminco Corporation (NYSE: TAM) with a Buy rating and $22.00 price target.

In the report, Goldman Sachs noted, “We initiate coverage of TAM with a Buy rating and $22, 12-month price target. Following a decade of consolidation, TAM has emerged as the market leader in alkylamines, a unique niche in the specialty chemicals industry. Alkylamines offer important performance characteristics but typically represent only a small part of a customer's total cost. Given the consolidated industry, a collection of growing and less volatile end-markets, and excellent free cash flow characteristics, TAM generates high margins (20%+ EBITDA) with less volatility than most specialty chemical companies.”

Taminco Corporation closed on Friday at $17.40.