Analyst Boosts This Manufacturer Stock To Outperform, Ups Price Target By Over 40%
Portfolio Pulse from Akanksha Bakshi
RBC Capital analyst Arun Viswanathan upgraded Chemours Co (NYSE:CC) from Sector Perform to Outperform and raised the price target from $28 to $40, a 40.6% increase. The upgrade is based on expected TiO2 margin recovery, strong TSS performance, and PFAS liabilities settlement. The TSS segment is expected to grow with OPTEON adoption, and APM's focus shift is anticipated to improve sales and margins. Despite short-term challenges, Viswanathan is confident in the recovery of TiO2 margins and the resolution of liabilities, which may lead to multiple expansion for CC stock. CC shares rose 8.49% to $29.77.
December 01, 2023 | 4:46 pm
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Chemours Co was upgraded by RBC Capital from Sector Perform to Outperform with a price target increase from $28 to $40, indicating a strong future performance based on TiO2 margin recovery, TSS segment growth, and PFAS liabilities settlement.
The upgrade by a prominent analyst typically has a positive impact on the stock price in the short term, especially with a significant price target increase of over 40%. The optimism is based on expected improvements in the company's TiO2 margins, TSS segment performance, and the settlement of PFAS liabilities. The recent 8.49% rise in CC shares following the upgrade further supports the positive outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100