Market Overview

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

Share:
Related CENX
Ill Wind Blowing On Copper, Aluminum Producers
Morning Market Losers

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
Mar 2015Morgan StanleyDowngradesEqualweightUnderweight
Mar 2015Standpoint ResearchUpgradesHoldBuy
Mar 2015Deutsche BankMaintainsBuy

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...