NL Industries price target lowered to $6 from $7 at Barclays

Barclays lowered the firm’s price target on NL Industries to $6 from $7 and keeps an Underweight rating on the shares post the Q4 results. While Asia spot TiO2 prices have moved 5% higher year-to-date, supply/demand remains imbalanced through the first half of 2023 as coatings customers continued to work down elevated inventory levels and China demand recovery in TiO2 has been described as tepid thus far, the analyst tells investors in a research note.