Tronox Holdings (TROX) stock will likely drop due to missed earnings guidance for Q3 and Q4 amid softer coatings demand, UBS said in a note emailed Friday.
The chemicals company is facing a challenging end to 2024 but a stronger start to 2025 is anticipated, driven by restocking and inventory cost normalization, the investment firm said.
Tronox forecasts a 10%-to-15% sequential decrease in titanium dioxide volumes, which is more than the anticipated mid-single-digit decline, UBS analysts noted.
Protective measures in Europe, the US, Brazil, and other regions may positively impact titanium dioxide pricing in 2025, according to the analysts.
UBS lowered the price target for Tronox to $18 from $19 and had a buy rating.
Price: 12.25, Change: -0.17, Percent Change: -1.37
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