Oppenheimer Maintains Outperform on Globe Specialty Metals

Oppenheimer is out with its report today on Globe Specialty Metals

, maintaining Outperform. In a note to clients, Oppenheimer writes, "Alden could close this month, and the details provided on the ensuing conference call could serve as a catalyst. Blended Si-alloy prices for GSM remain robust, and the mix has shifted toward the higher grade, higher priced variety. Maintain Outperform and $28 price target and raise FY4Q11 EBITDA/EPS to $40M/$0.27 and CY11E EBITDA/EPS to $169M/$1.15." Shares of GSM closed Tuesday at $23.60, down 0.92% from Monday's close.