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Fly News Breaks for April 11, 2019
TROX
Apr 11, 2019 | 07:08 EDT
Tronox shares, following completion of the Cristal acquisition, "have room" to appreciate shorter-term to reach $17, and the appreciation "will occur in steps," JPMorgan analyst Jeffrey Zekauskas tells investors in a research note. He keeps an Overweight rating on Tronox with a $17 December 2019 price objective. Exxaro owns 28.7M Tronox shares that it intends to monetize and some investors believe these shares have created an "overhang," Zekauskas writes. However, he believes Tronox will repurchase theses shares as well as Exxaro's 26% stake in Tronox's South African joint ventures. The analyst also believes that the major titanium dioxide companies "should begin to experience a healthy demand pattern" in the second half of 2019. Zekauskas expects Tronox to generate $3.00 per share in free cash flow in 2020.
News For TROX From the Last 2 Days
TROX
Mar 27, 2024 | 08:29 EDT
Deutsche Bank analyst David Begleiter raised the firm's price target on Tronox to $20 from $17 and keeps a Buy rating on the shares.