Bernstein initiated coverage of Titan America (TTAM) with a Market Perform rating and $17 price target implying 8% upside. The company’s long-term growth prospects are attractive, given a favorable geographic footprint and structural margin expansion, but the near-term cyclicality limits the share upside over the next 12 months, the analyst tells investors in a research note. The firm says Titan has a prime geographic footprint that should translate to sustained mid-single digit demand growth longer term.
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