KeyBanc Downgrades Global Brass and Copper Holdings, Inc. (BRSS) to Sector Weight
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
KeyBanc downgraded Global Brass and Copper Holdings, Inc. (NYSE: BRSS) from Overweight to Sector Weight and removed its price target. Analyst Philip Gibbs sees balanced risk-reward.
"We reduce our rating on shares of BRSS to Sector Weight (from Overweight), with our price target of $31 (based on re-rating of the Company's multiple) having been achieved. Our 2016 and 2017 volume estimates are reduced, reflecting weaker transportation demand momentum (auto and Class 8 truck) and modest slowing of growth momentum in building and construction markets. Our 2017 FCFE view is reduced a bit to reflect higher inventory valuations (higher copper and zinc costs)," said the analyst.
Shares of Global Brass and Copper Holdings, Inc. closed at $30.00 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- JPMorgan Cuts Teva Pharma (TEVA) to Neutral Amid Challenging Generic Environment
- Zayo Group Holdings (ZAYO) PT Raised to $41 at BTIG; Reiterates Buy
- Checkpoint Software (CHKP) PT Raised to $94 at Stifel Following 4Q Beat
Create E-mail Alert Related CategoriesAnalyst Comments, Downgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!