Market Overview

UPDATE: J.P.Morgan Lowers PT on Century Aluminum on Updated Cost Savings Targets

Share:
Related CENX
Worst Performing Industries For July 1, 2015
USW Stands for Order in Chaos Created by Century Aluminum

In a report published on Wednesday, J.P. Morgan analyst Michael Gambardella lowered the price target on Century Aluminum (NYSE: CENX) from $9.00 to $8.50 and maintained a Neutral rating on the company.

In the report, Gambardella noted, "The company recently acquired another Kentucky smelter (Sebree) near its Hawesville plant, which in our view increased its chances of improving the power cost profile at both facilities... While the new power rates would improve Century's current cost structure... we do not expect they will be correlated with primary LME aluminum prices which merits a discount given the potential for margin volatility absent any hedging."

Century Aluminum closed Tuesday at $9.85.

Latest Ratings for CENX

DateFirmActionFromTo
May 2015JP MorganMaintainsUnderweight
Apr 2015Deutsche BankMaintainsBuy
Mar 2015JP MorganMaintainsUnderweight

View More Analyst Ratings for CENX
View the Latest Analyst Ratings

Posted-In: JP Morgan Michael GambardellaAnalyst Color Price Target Analyst Ratings

 

Related Articles (CENX)

Around the Web, We're Loving...

Get Benzinga's Newsletters