Tronox is a "good investment opportunity" that has been overlooked because of the drawn out negotiation between the company and the Federal Trade Commission over the proposed merger with Cristal, JPMorgan analyst Jeffrey Zekauskas tells investors in a research note titled "Opportunity Knocks." The analyst sees a 75% probability that Tronox can close its merger with Cristal. He thinks Tronox is progressing in its discussions with the FTC staff because the two parties filed a joint motion on February 11 to delay the filing of the remaining briefs on appeal by about a month. Zekauskas keeps an Overweight rating on Tronox shares with a $17 price target.