KeyBanc Downgrades Global Brass and Copper Holdings, Inc. (BRSS) to Sector Weight

November 29, 2016 6:53 AM EST
Get Alerts BRSS Hot Sheet
Price: $31.15 +4.53%

Rating Summary:
    1 Buy, 4 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 21 | Down: 18 | New: 19
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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.

For an analyst ratings summary and ratings history on Global Brass and Copper Holdings, Inc. click here. For more ratings news on Global Brass and Copper Holdings, Inc. click here.

Shares of Global Brass and Copper Holdings, Inc. closed at $30.00 yesterday.



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