BTIG Starts Tronox (TROX) at Buy, Looks to Have Shares Listed on Exchange by Fall
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Price: $22.14 +0.45%
Rating Summary:
2 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
2 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade TROX Now!
BTIG initiates coverage on shares of Tronox (PINK: TROX) with a Buy rating and $197 price target.
The firm reports that titanium dioxide industry's pricing are growing rapidly and are outpacing feedstock ore prices. The price increases are driving EBITDA margin growth and higher revenues.
The company currently appears to be valued at a discount to its TiO2 peers and also at a discount to commoditized chemical manufacturers as it has tax attributes worth in excess of $30 per share.
An analyst at BTIG comments, "margin and capex requirements for TiO2 manufacturers going forward are likely to be closer to those of specialty chemical manufacturers than commodity manufactures which argues for valuations in excess of commodity chemical manufacturers."
Following the company's conference call on July 7, the firm forecasts that TROX will have shares listed on the exchange by the fall of 2011.
For more ratings news on Tronox click here and for the rating history of Tronox click here.
Shares of Tronox closed at $157.25 yesterday, with a 52 week range of $115.00-$158.50.
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The firm reports that titanium dioxide industry's pricing are growing rapidly and are outpacing feedstock ore prices. The price increases are driving EBITDA margin growth and higher revenues.
The company currently appears to be valued at a discount to its TiO2 peers and also at a discount to commoditized chemical manufacturers as it has tax attributes worth in excess of $30 per share.
An analyst at BTIG comments, "margin and capex requirements for TiO2 manufacturers going forward are likely to be closer to those of specialty chemical manufacturers than commodity manufactures which argues for valuations in excess of commodity chemical manufacturers."
Following the company's conference call on July 7, the firm forecasts that TROX will have shares listed on the exchange by the fall of 2011.
For more ratings news on Tronox click here and for the rating history of Tronox click here.
Shares of Tronox closed at $157.25 yesterday, with a 52 week range of $115.00-$158.50.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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