Chemours initiated with a Neutral at Mizuho

Mizuho analyst John Roberts initiated coverage of Chemours with a Neutral rating and $25 price target. The analyst cites TiO2 overcapacity concerns and inconsistency around economic growth for the rating. Global supply demand doesn’t appear to be tightening sufficiently in spite of some modest rationalization by outside of China producers, the analyst tells investors in a research note. The firm says Chemours’ valuation is “muddied by PFAS assumptions.”