Tronox price target lowered to $17 from $21 at BMO Capital

BMO Capital analyst John McNulty lowered the firm’s price target on Tronox (TROX) to $17 from $21 and keeps an Outperform rating on the shares after its Q3 earnings miss. The company’s investment story was always tied to 2025, and while the Q3 results and delay in seeing the benefit of higher utilization rates until late Q4 are disappointing, BMO continues to see 2025 favorably for Tronox earnings as these headwinds fade, the analyst tells investors in a research note.