Loading...
Loading...
In a report published Tuesday, Morgan Stanley analyst Paretosh Misra upgraded the rating on
Century Aluminum Co.CENX from Equal-Weight to Overweight, and named a $33.00 price target.
In the report, Morgan Stanley noted, “We are upgrading CENX to Overweight and introducing our PT at $33 (up 106% vs. our previous base case). Our upgrade is based on 69% upward revision to our 2015e EBITDA on stronger pricing & mix. We see $4/share of incremental value from mix improvement, $3 from growth, and $1 from cost cutting opportunities, not currently priced in shares. We estimate 2015e FCF at $3.68/sh, leaving sufficient cash to invest in low-capex growth/mix improvement opportunities and capital return (share buyback or special dividend). Our bull case is at $50 on higher EBITDA (73% above base case).”
Century Aluminum Co. closed on Friday at $24.98.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
We simplify the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in