As previously reported, BMO Capital upgraded Tronox (TROX) to Market Perform from Underperform with a price target of $6, up from $1. The firm notes the company announced that it has seen non-binding support/interest from the Export Finance Australia and Export-Import Bank of the United States for up to $600M of financing for Tronox’s development of its rare earth chain. While Tronox remains a highly risky investment, in BMO’s view, the potential risk/reward has improved.
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Read More on TROX:
- Tronox upgraded to Market Perform from Underperform at BMO Capital
- Unusually active option classes on open December 9th
- Tronox receives letters of support from EXIM, EFA for $600M in financing
- Tronox price target lowered to $3.80 from $3.90 at UBS
- Tronox Earnings Call: Mixed Sentiments Amid Challenges