(Public) Chemours - Jon's Favorite Capital Cycle Investment Idea

CC is a basic capital-cycle play at a cyclical trough. The TSS segment is driving growth with the HFO transition, and the TT titanium dioxide segment is poised for recovery. The company is estimated to generate $1.5B in adjusted EBITDA by 2028, up from the current $750M. The price target is $27 (125% upside). A key risk is the PFAS liabilities, which are over $814M.