UBS Maintains a 'Buy' on TRONOX (TROX); Raising Estimates on Tax Guidance

August 3, 2012 1:14 PM EDT Send to a Friend
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Price: $23.02 --0%

Rating Summary:
    5 Buy, 1 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 36 | New: 46
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UBS maintains a 'Buy' on TRONOX (NYSE: TROX) price target of $31.00 (from $29.00).

Analyst, Gregg A. Goodnight, said, "Company reports 2Q EBITDA of $146 million, ahead of pre-release...Tronox maintains pro-forma EBITDA guidance of $875M to $962M in 2012...We are raising our EPS estimates for 2012/2013/2014 from to $2.80/$3.60/$4.55 from $2.22/$2.94/$3.56 to reflect the company’s recent tax guidance given during the 2Q call. Our prior assumption had been for a 30% book tax rate and a 20% cash tax rate with an average rate of 26% in 2012."

FY12 EPS estimate raised from $2.22 to $2.80 and FY13 from $2.94 to $3.60.

For an analyst ratings summary and ratings history on TRONOX click here. For more ratings news on TRONOX click here.

Shares of TRONOX closed at $24.04 yesterday.


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