Argus Upgrades Chemours On Significant Competitive Advantages
Argus's David Coleman upgraded Chemours Co (NYSE: CC) to Buy with a $13.00 price target.
"We believe that Chemours has significant competitive advantages based on its large size, vertically integrated structure, and broad geographic reach," said Coleman. The company had shown strength by cutting costs and raising prices while improving working capital, according to the analyst.
Additionally, Coleman appreciated the CEO's positive comments on Chemours' recent transformation plan while projecting higher EBITDA and "modestly positive" free cash flow in FY16.
In response to Chemours' recent signs of strength, Argus raised the company's 2016 diluted EPS estimate from $0.75 to $0.83 and FY17 estimate from $1.087 to $1.16. Both estimates are above the analyst average.
According to TipRanks, Coleman has a 65 percent success rate and a +2.4 percent average return per recommendation.
At time of writing, Chemours traded at $10.67, up 3.59 percent.
Latest Ratings for CC
Aug 2016 | Argus Research | Upgrades | Hold | Buy |
Aug 2016 | UBS | Maintains | Sell | |
Jul 2016 | Citigroup | Maintains | Neutral |
View More Analyst Ratings for CC
View the Latest Analyst Ratings
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