After RBC Capital and Alembic Global gave Chemours Company (NYSE: CC) a Buy rating last month, the company received another Buy, this time from BMO Capital. Analyst John McNulty maintained a Buy rating on Chemours Company today and set a price target of $53.00. The company’s shares closed last Monday at $33.10.
According to TipRanks.com, McNulty is a 4-star analyst with an average return of 3.7% and a 52.6% success rate. McNulty covers the Basic Materials sector, focusing on stocks such as Air Products and Chemicals, Sherwin-Williams Company, and Axalta Coating Systems.
Currently, the analyst consensus on Chemours Company is a Moderate Buy with an average price target of $40.67, representing a 22.9% upside. In a report issued on April 18, Alembic Global also maintained a Buy rating on the stock with a $40.00 price target.
Based on Chemours Company’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.58 billion and net profit of $233 million. In comparison, last year the company earned revenue of $1.34 billion and had a net profit of $19 million.
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The Chemours Co. is a holding company, which engages in the provision of performance chemicals. It operates through the following segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. The Titanium Technologies segment produces titanium dioxide. The Fluoroproducts segment supplies refrigerants and industrial fluoropolymer resins. The Chemical Solutions segment provides chemicals used in gold production, oil refining, agriculture, and industrial polymers. The firm offers refrigerants, industrial fluoropolymer resins, sodium cyanide, performance chemicals and intermediates, and titanium dioxide pigments to the plastics and coatings, refrigeration and air conditioning, general industrial, electronics, mining, and oil refining markets. The company was founded on February 18, 2014 and is headquartered in Wilmington, Delaware.
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