Century Aluminum (NASDAQ:CENX) +4.3% premarket after J.P. Morgan upgrades shares to Overweight from Neutral with a $29 price target, raised from 18, in the stock"s third analyst upgrade in as many days.
JPM cites Pres. Trump"s tariff plan and CENX"s subsequent decision to restart three potlines at its Hawesville, Ky., smelter that have been curtailed since mid-to-late 2015.
Analyst Michael Gambardella expects CENX will "benefit significantly from a higher all-in aluminum price and the company"s greater earnings base from Hawesville, leading to higher earnings and cash flow."
CENX shares have jumped 7.5% this week following earlier upgrades from BMO Capital and Cowen (I, II).Nguồn: seekingalpha.com