Chemours (CC) PT Raised to $48 at RBC Capital

RBC Capital analyst Arun Viswanathan raised the price target on Chemours (NYSE: CC) to $48.00 (from $34.00) while maintaining a Outperform rating.

The analyst commented, "Destocking challenges H1/19 TiO2 volumes but CC is well-positioned for a cycle turn given stable pricing from TVS and low costs. Flouro should see strong hsd% EBITDA growth in 2019 and can be separated for a very attractive $50+ SOTP value for CC. Lastly, CC should deploy much of its $550M+ FCF in 2019 to opportunistic buybacks."

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