BMO Capital analyst John McNulty raised the firm’s price target on Chemours (CC) to $20 from $18 and keeps an Outperform rating on the shares after the company sold its Taiwan TiO2 site for $360M. The “sizable windfall” is a “meaningful positive” for Chemours, the analyst tells investors in a research note. BMO expects the proceeds to go toward debt reduction, providing a “liquidity cushion” for future PFAS settlements. The firm says the sale should help investors “get comfortable” that Chemours has enough cash to fund future growth opportunities going forward.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on CC:
Disclaimer & DisclosureReport an Issue
