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UPDATE: Bank of America Reiterates Neutral Rating, Raises PT on Century Aluminum on Raised EPS

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Morgan Stanley Downgrades Century Aluminum To Equal-weight
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In a report published Friday, Bank of America reiterated its Neutral rating on Century Aluminum (NASDAQ: CENX), and slightly raised its price target from $8.50 to $9.00.

Bank of America noted, “We raised 2013E EPS to $0.15 from $0.10, 2014E EPS to a loss of $0.35 from a loss of $0.45, and 2015E to $0.75 from $0.64 based on assumed higher primary aluminum shipments. CENX reported Q412 EPS of an $0.08 loss vs. BofAML at a $0.10 loss and consensus of a $0.14 loss. Direct aluminum volumes fell 2% q/q while price realizations rose 5% q/q. Tolling volumes rose 1% q/q while revenue increases 6% q/q. One month lagged aluminum prices were up 7% q/q."

Century Aluminum closed on Thursday at $8.83.

Latest Ratings for CENX

DateFirmActionFromTo
Mar 2015Deutsche BankMaintainsBuy
Mar 2015Morgan StanleyDowngradesOverweightEqual-weight
Mar 2015Bank of AmericaDowngradesBuyNeutral

View More Analyst Ratings for CENX
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Price Target Analyst Ratings

 

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