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Barclays Analyst Boosts Tronox Holdings Price Target by 29.4%: Strong Buy Rating Maintained

By Don Francis, Editor
May 16, 2024 9:11 AM UTC
Barclays Analyst Boosts Tronox Holdings Price Target by 29.4%: Strong Buy Rating Maintained

Barclays's Michael Leithead raised their price target on Tronox Holdings (NYSE: TROX) by 29.4% from $17 to $22 on 2024/05/15. The analyst maintained their Strong Buy rating on the stock.

Leithead reported that their price target hike was catalyzed by a deep dive into their Basic Materials (U.S. Chemicals & Packaging) sector coverage area, post-Tronox Holdings's Q1 2024 earnings report on 2024/05/01. The analyst told investors that a positive volume rebound in the TiO2 market in Q1 demonstrated the company's operational leverage that should drive recovery.

On 2024/05/15, the analyst also raised their price target on Kronos Worldwide Inc by 12.5%, from $8 to $9, and maintained their Strong Sell rating.

Analyst ratings can provide valuable insights for investors, and Leithead's bullish stance on Tronox Holdings indicates their confidence in the company's future performance. According to their assessment, the positive volume rebound in the TiO2 market during the first quarter showcases Tronox's ability to leverage its operations, which should contribute to the company's recovery.

It is worth noting that 100% of top-rated analysts currently rate TROX as a Strong Buy or Buy, with no analysts considering it a Hold. Additionally, no analysts recommend or strongly recommend selling the stock. This widespread optimism among analysts further supports Leithead's positive outlook on Tronox Holdings.

Looking at Tronox's recent performance, the stock price has seen a 12.4% increase since its last quarterly report on 2024/03/31. On a year-over-year basis, the stock has surged by an impressive 72.4%. During this period, Tronox has outpaced the S&P 500, which has risen by 28.3%. These figures indicate a strong growth trajectory for the company, reinforcing the rationale behind Leithead's price target hike.

Barclays analyst Michael Leithead holds an esteemed position among Wall Street analysts, ranking in the top 25% out of 4,586 analysts according to WallStreetZen. With an average return of 3.1% and a win rate of 59.1%, Leithead's expertise lies in the Basic Materials and Consumer Cyclical sectors. This specialization suggests that the analyst possesses a deep understanding of Tronox Holdings' industry and market dynamics, lending further credibility to their price target revision.

Tronox Holdings is a vertically-integrated manufacturer of TiO2 pigment, operating both in the U.S. and internationally. The company engages in titanium-bearing mineral sand mining, beneficiation, and smelting operations. Their product portfolio includes TiO2 pigment, ultrafine specialty TiO2, zircon, feedstock, pig iron, titanium tetrachloride, and other related products. These materials find applications in various industries, such as paints, coatings, plastics, and paper manufacturing.

What are the top analysts forecasting for TROX?

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