Market Overview

UPDATE: D.A. Davidson Terminates Coverage on Titanium Metals Corp.

Related TIE
Precision Castparts Closes Offering Period for Timet Shares
Precision Castparts Announces Closing of Tender Offer for Timet, Announces Subsequent Offering Period

In a report published Wednesday, D.A. Davidson & Co. terminated its coverage on Titanium Metals Corp. (NYSE: TIE).

D.A. Davidson noted, “On January 8th, Precision Castparts (PCP*-BUY- $186.77) announced the completion of the acquisition of Titanium Metals Corp. As a result of the merger, TIE shareholders will receive $16.50 in cash per share, a 43% premium to the November 9th closing price when the acquisition was announced. As a result of the merger, TIE shares ceased trading on January 8, 2013; therefore, we are discontinuing coverage of TIE effective immediately. All estimates, price targets and rating, as shown, are from the most recent reports published on November 12, 2012 and are now being vacated.”

Titanium Metals Corp. closed on Monday at $16.50.

Latest Ratings for TIE

DateFirmActionFromTo
Jan 2013CitigroupSuspendsNeutral
Dec 2012JP MorganDowngradesOverweightNeutral
Oct 2012CitigroupDowngradesBuyNeutral

View More Analyst Ratings for TIE
View the Latest Analyst Ratings

Posted-In: D.A. Davidson & Co.Analyst Color Termination Analyst Ratings

 

Related Articles (TIE)

Around the Web, We're Loving...

Get Benzinga's Newsletters