- CFRA analyst Richard Wolfe upgrades Chemours (NYSE:CC) to Buy from Hold on the basis that the stock is "attractively valued" and the company is poised to generate strong earnings as the global economy recovers.
- Lifts 2021 EPS estimate to $2.74 from $2.39.
- "We think the titanium dioxide pigment market looks favorable in the near-term, supported by architectural coatings trends that will outlast the pandemic (do-it-yourself paint) coupled with improving construction trends," Wolfe writes.
- Also sees upside for fluoroproducts as the adoption of low Global Warming Potential refrigerants improves with auto production recovery.
- In the medium-term, Wolfe sees growth potential in fluoropolymers supported by favorable trends in 5G infrastructure and hydrogen production.
- Last week, RBC upgraded Chemours to Outperform due to the recovery in automotive and construction markets.