Tronox upgraded to Neutral from Underperform at Credit Suisse

Credit Suisse analyst John Roberts upgraded Tronox to Neutral from Underperform with a price target of $13, up from $12. The company’s recent results have been under pressure due to significant inventory destocking by customers that has resulted in a sharp decline in estimates during 2023, the analyst tells investors in a research note. The firm believes many of these issues are likely to be transitory and unlikely to repeat next year. As such, it now views Tronox’s risk/reward as fairly balanced.