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UPDATE: Goldman Sachs Upgrades Century Aluminum

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In a research note released Monday, Goldman Sachs analyst Sal Tharani upgraded Century Aluminum (NASDAQ: CENX) from Sell to Neutral.

The analyst stated, “We were wrong on CENX as its cost cutting initiatives,” adding that the price of aluminum was better than they had expected and contributed to the jump in the company's stock price.

In addition, the analyst is raising 2014, 2015 and normalized earnings per share estimates to $0.32, $1.00 and $1.50, from ($0.02), $0.45 and $0.75, respectively. This is primarily due to better aluminum all-in pricing, cost cutting measures and Century Aluminum's new power purchase strategy.

Shares of the company are fairly neutral on Monday.

Latest Ratings for CENX

DateFirmActionFromTo
Sep 2014Bank of AmericaUpgradesNeutralBuy
Sep 2014Deutsche BankInitiates Coverage onBuy
Sep 2014Morgan StanleyUpgradesEqual-weightOverweight

View More Analyst Ratings for CENX
View the Latest Analyst Ratings

Posted-In: Goldman Sachs Sal TharaniAnalyst Color Upgrades Analyst Ratings

 

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