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Fly News Breaks for August 6, 2015
TROX
Aug 6, 2015 | 08:03 EDT
B. Riley downgraded Tronox to Neutral and reduced its price target to $11.25 from $15. The firm said Q2 adjusted EBITDA was below at the TiO2 market continues to worsened and the company has shuttered both TiO2 and slag capacity. B. Riley believes Q2 2016 goal for 4x leverage is far out of reach and there is no visibility into a turn in the business.
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