Tronox (TROX) Opens Higher After Barron's Article
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Shares of Tronox (NYSE: TROX) moved higher early on Monday after the company was featured in a weekend article in Barron's. Tronox, a titanium dioxide maker, shares have declined 50 percent since June and Barron’s thinks the selloff is overdone.
"There's reason to think that demand for titanium dioxide could rebound. As that happens, over the next year, Tronox stock could double," wrote Barron’s.
Lack of demand caused by a slow global economy has hurt sales. However, with customers stretching the use of cheaper materials, the time may have come when demand must inevitably rebound for Tronox's higher-quality produce.
A recovery in U.S. housing and stimulus policies in China are also seen as positives, said Barron's.
Shares of Tronox last traded at $16.72, up 6 percent.
"There's reason to think that demand for titanium dioxide could rebound. As that happens, over the next year, Tronox stock could double," wrote Barron’s.
Lack of demand caused by a slow global economy has hurt sales. However, with customers stretching the use of cheaper materials, the time may have come when demand must inevitably rebound for Tronox's higher-quality produce.
A recovery in U.S. housing and stimulus policies in China are also seen as positives, said Barron's.
Shares of Tronox last traded at $16.72, up 6 percent.
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