CE - Chemours raised to Buy at Goldman on TiO2 cycle improvement

JStuij/iStock via Getty Images Chemours ([[CC]] +3.3%) rallies to a more than two-year high as Goldman Sachs upgrades shares to Buy from Neutral with a $47 price target, up from $35, citing brighter near-term prospects driven by TiO2 cycle improvement and growth in the company's fluoroproducts business. The industry's efforts to stabilize TiO2 pricing have worked, Goldman's Robert Koort says, and "pigment prices are now set to increase for the first time in more than two years as customer inventory levels remain lean, industry operating rates have tightened, and underlying feedstock inflation has lifted industry cost curves." While tailwinds are becoming stronger, Chemours share price "does not fully reflect the underlying earnings power of the business as the TiO2 cycle inflects and Fluoroproducts growth begins to reappear," Koort writes. Goldman also downgrades Celanese ([[CE]] -1.4%) to Neutral from Buy with a $184 price target following the stock's recent outperformance. Chemours also

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Chemours raised to Buy at Goldman on TiO2 cycle improvement