Nova Chemicals is a standout in North America -- one reason its shares are off only 26% this year, compared with the 75% drubbing suffered by commodity-chemical companies. But that also means its shares might have further to fall. Prices of ethylene -- a base alkene used to synthesize many chemicals -- is in a down cycle that may not hit bottom until 2010, and additional capacity in the second half in the Middle East could spell more trouble. "In particular, we are worried that this cyclical decline based on Middle East capacity additions would be hastened by the onset of an economic downturn," notes Citigroup analyst P.J. Juvekar, who downgraded Nova last week and cut his price target to 21 from 25. He now expects Nova to earn $1.46 a share in 2009 -- down from $2. Separately, chemical giant BASF (BASFY) also told investors to expect margin pressure well into 2011. At about 25, Nova shares could come under more pressure if other analysts, too, begin trimming their estimates; The consensus price target is still a rather hefty 33.

Nova Chemicals (NCX) was upgraded to Buy rating from Neutral at UBS. Price target holds at $41 and FY 2008 eps estimates dip to $3.20 from $3.75.

Cramer's suggestion that this is takeover potential here.

Cramer recommendation

cramer

Waiting for a buy out and it has good fundamentals

Let's round it out with some chemical. I think I am fully diversified what do you think CRAMER!!!!!!! Need to increase my paycheck 4 kids man 33yrs 2 women thats all you need and puerto rican rum on a wood floor.

Upgraded by BMO Capital Mkts from Mkt Perform to Outperform

Downgraded by Credit Suisse from Outperform to Neutral

Downgraded by UBS from Buy to Neutral

Got sucked into this piece of crap. Never seen a stock that is a takeover target get pounded like this. It started way before the sell-off so stick it. By the way, the Barron's article was not that bad, he can't take any form of criticism. PAL ASD NCX CAT COP and many others that you highlighted (not the lightning round) are all down BIG. Just telling it like it is.