KeyBanc Downgrades Kaiser Aluminum Corporation (KALU) to Hold

October 21, 2013 9:01 AM EDT
Get Alerts KALU Hot Sheet
Price: $79.91 +1.28%

Rating Summary:
    5 Buy, 7 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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KeyBanc downgraded Kaiser Aluminum Corporation (NASDAQ: KALU) from Buy to Hold.

Analyst Mark L. Parr said, "The combination of emerging spot pricing weakness for aluminum plate products, lack of near-term stabilization in non-plate aerospace de-stocking, and a lag time associated with benefits from de-bottlenecking investments yields our incremental cautiousness as reflected in our meaningfully curtailed 2014 expectations. While KALU remains a solid long-term investment, including volume growth leverage to aerospace and automotive (70% of value-added sales), we believe the material reduction to our 2014 view leaves shares with limited near-term upside potential."

For an analyst ratings summary and ratings history on Kaiser Aluminum Corporation click here. For more ratings news on Kaiser Aluminum Corporation click here.

Shares of Kaiser Aluminum Corporation closed at $67.37 yesterday.

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