BMO Capital Downgrades Chemours (CC) to Underperform

BMO Capital analyst John McNulty downgraded Chemours (NYSE: CC) from Market Perform to Underperform with a price target of $19.00 (from $45.00)

The analyst comments "Following a two-week delay in their reporting, Chemours has announced a further delay in filing their results and their 10-K and has also announced that they have put CEO Mark Newman, CFO Jonathan Lock and VP/Controller Camela Wisel on administrative leave. We continue to believe many of CC's core businesses should see a recovery in 2024. However, with risk to the numbers and the heightened risk tied to the abrupt management changes, we expect CC to underperform the broader Chemical sector and pull our TP to $19."

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 $28.72 yesterday.

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