🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Why Chemours Gets A Double Upgrade From This Analyst

Published 09/04/2024, 17:56
Updated 09/04/2024, 19:10
© Reuters.  Why Chemours Gets A Double Upgrade From This Analyst
CC
-

Benzinga - by Priya Nigam, Benzinga Staff Writer.

Chemours Co (NYSE: CC) reported in late March its fourth-quarter earnings ahead of expectations.

With the company’s accounting issue in the rearview mirror, many of its businesses seem to be at or near an inflection point, according to BMO Capital Markets.

The Chemours Analyst: John McNulty upgraded the rating for Chemours from Underperform to Outperform, while raising the price target from $19 to $34.

The Chemours Thesis: The company announced its first-quarter guidance well below expectations and there was limited visibility into its performance in 2024, McNulty said in the upgrade note.

Check out other analyst stock ratings.

Chemours’ earnings should improve through 2024 and into the next couple of years, as the company gets past “one-offs," the analyst stated.

“We expect Chemours to outperform the market as it appears things are at trough/coming off trough right now in all of their segments,” he added.

“Finally, our time with CEO Dignam confirmed she has a solid plan to drive the company going forward,” McNulty further wrote.

CC Price Action: Shares of Chemours had risen by 3.22% to $27.92 at the time of publication on Tuesday.

Read Next: 2024 Solar Eclipse: When The Sun Took A Break, So Did The Internet

Photo: Courtesy Chemours

Latest Ratings for CC

DateFirmActionFromTo
Feb 2022RBC CapitalMaintainsOutperform
Feb 2022JP MorganMaintainsNeutral
Jan 2022UBSMaintainsNeutral
View More Analyst Ratings for CC

View the Latest Analyst Ratings

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.