Key Points Below-consensus Q3’24 EBITDA and EPS. Q4 guidance significantly below consensus on continued destocking Dividend temporarily cut and a series of earnings/cash generation improvement actions announced We have a Neutral rating on...
Key Points In line Q3’24 EPS but EBITDA beat; midpoint of Q4'24 guidance below consensus Pricing weakness observed across all segments (y-o-y) but volumes rose y-o-y in every segment; near-term commentary cautious We...
Key Points Q3’24 EBITDA and EPS beat Q4’24 guidance appears slightly below consensus; corporate strategy refreshed We rate CC shares Overweight, with a 12-month target price of USD27 per share Summary Chemours announced Q3’24 earnings...
Key Points We are reiterating our Overweight rating on shares of RBC after Friday’s 2QFY25 earnings release and we’re raising our target price by USD4 to USD337. Note our EPS projections...
Key Points Recent share price selloff overdone with shares already trading below trough valuation levels Fundamentals inflecting up with trough, mid-cycle, and peak earnings power underestimated by investors, in our view We rate...
Key Points Q3'24 EBITDA and EPS miss Near-term outlook commentary relatively negative We rate LYB shares Neutral; our 12-month target price is USD105 per share Summary LyondellBasell announced Q3’24 results this morning: Recurring EBITDA of...
Key Points We’re downgrading our rating on shares of HII to Neutral after a disappointing third quarter earnings call that saw shares crash 26%. Performance at the Newport News yard, in particular,...
Key Points We are reiterating our Overweight rating on shares of RTX after last week’s 3Q24 earnings release and we’re raising our target price by USD8 to USD142. We’ve increased our terminal...