Jefferies Downgrades Chemours (CC) to Hold

Jefferies downgraded Chemours (NYSE: CC) from Buy to Hold with a price target of $4.50.

Analyst Laurence Alexander commented, "2015 was a poor time to make contrarian calls. We still believe Chemours can find its way to delever sufficiently through a mix of asset sales, working capital relief, and feedstock cost relief. A weaker outlook for auto OEM markets and competitive pressure from Chinese producers, however, makes sustainable margin recovery more difficult, in our view, and should make it harder for Chemours to deliver the combination of rapid earnings recovery and multiple expansion that we had initially envisaged."

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 $3.88 yesterday.

You May Also Be Interested In

• Nokia OYJ (NOKIA:FH) (NOK) PT Raised to EUR18 at JPMorgan
• Oxford Industries (OXM) PT Lowered to $40 at UBS Amid Top-line Weakness
• Adobe (ADBE) PT Lowered to $225 at UBS Amid Plans to Pivot to Freemium Model