09 JULY 2014www.benzinga.com
Goldman sachs upgrades Century Aluminum
Edited by : AL CIRCLE
1 min read
In a research note released Monday, Goldman Sachs analyst Sal Tharani upgraded Century Aluminum 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.
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.
Previous article
Aluminium outperforms other metals except nickel
Next articleAluminium futures may trade down on -0.22%, trading range is 113.7-115.1
Grow with
AL Circle
