02:20 PM EDT, 04/01/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

Our 12-month target price of $18, up $1, reflects a 6x multiple of our revised 2025 EPS estimate, below CC's historical forward average, on concerns over near-term fundamentals and lingering litigation issues. We keep our 2024 EPS view at $2.93 and lift 2025's by $0.31 to $3.07. Q4 EPS of $0.31 vs. $0.07, beat consensus by $0.07. CC is only providing guidance for Q1 2024, guiding to a sequential revenue decline of 2% and a sequential EBITDA increase of 3%. We think the lack of guidance for the full calendar year implies a degree of uncertainty over how long the Titanium Technologies segment persists at the bottom of the cycle (at 48% of Q4 net sales, it is CC's largest segment). As CC is also aiming for low-cost leadership in the industry, we think it may mean ceding some growth when the eventual market recovery arrives. CC also said it also sees titanium volumes rising 15% in Q2, but we are somewhat concerned that the volume growth may be arriving on the back of weaker pricing.