TRONOX (TROX) PT Lowered to $9 at Mizuho

Mizuho analyst John Roberts lowered the price target on TRONOX (NYSE: TROX) to $9.00 (from $11.00) while maintaining a Neutral rating.

The analyst commented: "Consulting firm TiPMC provided a webinar update (hosted by Bloomberg) on TiO2 pigment. While 2025 is expected to improve relative to recent recessionary conditions, upside appears constrained by continued China supply growth and less-than-earlier-expected tariff benefits in EMEA & Brazil (India benefit not until 2026). While house paint is the largest application, demand follows global GDP over time. TROX is a pure-play producer (back integrated into feedstock ore mining), and TiO2 is ‾32% of CC 2025e EBITDA.

We are updating our price target to $9 from $11. Maintain Neutral rating."

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