Argus Upgrades Chemours (CC) to Buy
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Argus upgraded Chemours (NYSE: CC) from Hold to Buy with a price target of $13.00.
The firm believes that Chemours has significant competitive advantages based on its large size, vertically integrated structure, and broad geographic reach. In recent quarters, the company has cut costs and raised prices, while also improving working capital and strengthening its balance sheet.
The firm is raising 2016 diluted EPS estimate to $0.83 from $0.75 and our 2017 estimate to $1.16 from $1.07.
Shares of Chemours closed at $10.30 yesterday.
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