Investing.com -- Analysts initiated coverage on Titan America SA (NYSE:TTAM) with mixed ratings, some citing strong market positioning, while others concern over construction sector risks and pricing pressures.
BofA started TTAM at "Neutral" with a $16.50 price target, noting its leading market share in Florida and the NYC metro area but warning of slowing residential and non-residential construction demand.
Citi took a more bullish stance, launching coverage with a "Buy" rating and a $19 price target, citing a projected 13% EBITDA CAGR through 2027 and an opportunity for valuation expansion.
Goldman Sachs also rated TTAM "Neutral" but saw 20% upside to a $19 target, highlighting Titan’s exposure to high-growth regions and supply constraints benefiting its cement business.
Bernstein initiated TTAM at "Market-Perform" with a $17 target, citing long-term growth potential but cautioning about near-term cyclicality, particularly in the Florida housing market.
“The long-term growth prospects are attractive, given a favorable geographic footprint and structural margin expansion, but the near-term cyclicality limits the upside over the next 12 months,” analyst at Bernstein said.
TTAM, which went public in February, is trading marginally up at $15.60, near its IPO price.
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