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Oppenheimer is out with its report today on Globe Specialty Metals
GSM, maintaining Outperform.
In a note to clients, Oppenheimer writes, "Alden could close this month, and the details provided on the ensuing conference call could serve as a catalyst. Blended Si-alloy prices for GSM remain robust, and the mix has shifted toward the higher grade, higher priced variety. Maintain
Outperform and $28 price target and raise FY4Q11 EBITDA/EPS to $40M/$0.27 and CY11E EBITDA/EPS to $169M/$1.15."
Shares of GSM closed Tuesday at $23.60, down 0.92% from Monday's close.
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