Deutsche Bank Has Buy On Kronos Worldwide (KRO)

Deutsche Bank has a Buy rating and a $60 price target on shares of Kronos Worldwide KRO.

In a note to clients, Deutsche Bank writes, "Kronos' strong Q4 results and bullish long term outlook reinforced our conviction
that titanium dioxide (TiO2) supply/demand fundamentals will remain tight thru at least '13. With TiO2 customers shifting focus from pricing to assurance of supply, demand picking up due to spring/summer paint season, and inventory levels extremely low, we expect the majority of Q1 (10c/lb) and Q2 (15c/lb) selling price increases to stick. With tight supply/demand driving selling prices up 17% in ‘11E (vs Q4'10) and valuation an attractive 9.6x ‘12E EPS, we reiterate our Buy rating."

Shares of KRO gained $1.10 yesterday to close at $53.31, a gain of 2.1% yesterday.