RBC Capital upgraded Chemours to Outperform from Sector Perform with a price target of $40, up from $28. The analyst said they are now more optimistic on slow TiO2 margin recovery, solid TSS performance/growth outlook, and settlement of PFAS liabilities, adding that they believe Chemours earnings are “currently at bottom.” The firm noted that it sees Chemour’s expeditious and successful settling of legacy liabilities as “meaningfully de-risking the stock, which could drive 1-3x turns of multiple expansion.”
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