BMO Capital upgraded Chemours to Outperform from Market Perform with a price target of $34, up from $19. The analyst says the “accounting issue” is now behind the company. While Chemours’ Q1 guidance was well below expectations and communication around 2024 was limited, “we are at/near the inflection point in a number of CC‘s businesses,” the analyst tells investors in a research note. The firm says that as the company gets past a host of “one-offs”, its earnings should improve through 2024 and into 2024 which is not appreciated in this “show me” story. Time with Chemours’ CEO “confirmed she has a solid plan to drive the company going forward,” adds BMO.
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