Citi Downgrades Titanium Metals (TIE) to Hold
TIE Hot Sheet
Rating Summary:2 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
Citi downgrades Titanium Metals (NYSE: TIE) from Buy to Hold. Price target lowered to $7.50 from $8.
Citi analyst says, "Based on further weakness in titanium prices, we are downgrading TIE to Hold and reducing our '09 estimate to $0.33 from $0.35, '10 estimate to $0.50 from $0.80 and maintaining '11 at $0.85. Based on these changes our target prices declines to $7.50/sh from $8.00/sh...Items to look for in the earnings release include: 1) High value product mix; 2) YoY volumes changes in mill products; 3) Offsetting margin effects of lower raw materials costs and lower fixed cost absorption on diminished sales volumes; 4) Capex outlook; and 5) Commentary about aerospace engine or airframe demand."
Titanium Metals Corporation (TIMET) is a producer of titanium melted and mill products. The Company has titanium production facilities in the United States and Europe.
Citi analyst says, "Based on further weakness in titanium prices, we are downgrading TIE to Hold and reducing our '09 estimate to $0.33 from $0.35, '10 estimate to $0.50 from $0.80 and maintaining '11 at $0.85. Based on these changes our target prices declines to $7.50/sh from $8.00/sh...Items to look for in the earnings release include: 1) High value product mix; 2) YoY volumes changes in mill products; 3) Offsetting margin effects of lower raw materials costs and lower fixed cost absorption on diminished sales volumes; 4) Capex outlook; and 5) Commentary about aerospace engine or airframe demand."
Titanium Metals Corporation (TIMET) is a producer of titanium melted and mill products. The Company has titanium production facilities in the United States and Europe.
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