BMO Capital analyst John McNulty raised his price target on Tronox to $19 and kept his Outperform rating after the company and regulators moved to put the Cristal transaction for FTC consideration. The analyst states that while the support from the FTC staff does not necessarily guarantee the approval of the Ashtabula sale remedy by the deciding commission, it "dramatically increases the likelihood" of success, and believes that the transaction could close next month. McNulty also sees Tronox as more vertically integrated after the Cristal transaction, forecasting "significant upside" potential for the stock.