Quaker Chemical Corporation (NYSE:KWR) Turnaround Looks Solid

Janney Montgomery Scott says Quaker Chemical Corporation's (NYSE:KWR) turnaround appears sustainable, and add to that their acquisition of Summit Lubricants Inc., and long-term growth looks pretty good for them.

Janney noted, "Quaker will be selling the Summit product line into its steel, metalworking, and mining customers. Summit will manufacture Quaker's existing line of grease products that are currently outsourced."

They're raising their full year 2011 EPS estimate from $3.30 to $3.37.

Janney Montgomery Scott reiterates their "Buy" rating on Quaker Chemical Corporation, which closed Monday at $43.42, gaining $1.75, or 4.20 percent. They raised their price target on Quaker from $44 to $52.50.