Titan America initiated with a Buy at HSBC

HSBC analyst Wesley Brooks initiated coverage of Titan America (TTAM) with a Buy rating and $19 price target Titan is the leading cement and heavy-side building materials producer in Florida and the Mid-Atlantic, with 30% share in its markets and a vertically integrated strategy, the analyst tells investors in a research note. The firm says the shares have declined 6% following the February initial public offering and offer a “compelling valuation.”