BMO Capital upgraded Tronox to Outperform from Market Perform with a price target of $18, up from $11. The firm expects 2024 will mark the inflection point for Tronox with the end of destocking and “at least modestly improving demand” for the industry and potentially more for Western producers, the analyst tells investors. Given improved operating leverage and falling raw costs, the firm believes Tronox should see a “significant rebound” in earnings and cash flows.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on TROX:
- Tronox Declares Fourth Quarter 2023 Dividend
- Tronox price target lowered to $14 from $15 at Barclays
- Tronox downgraded to Neutral from Overweight at JPMorgan
- Tronox reports Q3 adjusted EPS (8c), consensus 5c
- Tronox co-CEO Jean-Francois Turgeon to retire, John Romano to be sole CEO
Questions or Comments about the article? Write to editor@tipranks.com