Kronos Worldwide price target raised to $7 from $6 at Barclays

Barclays analyst Michael Leithead raised the firm’s price target on Kronos Worldwide to $7 from $6 and keeps an Underweight rating on the shares. The analyst says belief in peaking rates and six quarters of destocking have led to some renewed optimism in materials shares. The firm ask if this is the start of a new cycle or another head-fake like last year’s “China reopening”? It is unclear, says Barclays, which is staying cautious with barbelled positioning in chemicals and packaging.