Chemours (CC) PT Cut To $48 At Jefferies On Coatings Headwinds

Jefferies analyst, Laurence Alexander, reiterated his Buy rating on shares of Chemours (NYSE: CC) and cut his price target to $48.00 (from $51.00) after cutting EPS for 2019E from $0.25 to $4.10, 2020E from $0.25 to $4.95, and 2021E from $0.25 to $5.75. The updated estimates include 1H19 Titanium Technologies headwinds from persistent weakness in coatings which will likely spill over into Q2.

The analyst stated "Seasonal effects in Q2 will likely be average, at best, rather than a sharper rebound to capture volume lost in Q1. This dynamic ripples through to our longer-term forecasts. Decremental margins should be high: we now forecast segment EBITDA margins falling 520bps in Q1 and a further 120bps in Q2".

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

Shares of Chemours closed at $37.16 yesterday.

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