Dahlman Rose Upgrades Kaiser Aluminum Corporation (KALU) to Buy; Entering A Sweet Spot
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Price: $89.49 -0.75%
Rating Summary:
6 Buy, 7 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
6 Buy, 7 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Dahlman Rose upgraded Kaiser Aluminum Corporation (NASDAQ: KALU) to Buy with a price target of $70.00.
Anthony B. Rizzuto, said, "Though LME aluminum ingot prices remain depressed, Kaiser has steadily increased profitability by passing through metal costs and focusing on increasing value added revenue per pound (see Exhibit 1). Achieving such increases is possible due to Kaiser's position in key products and end-markets (such as plate for aerospace and automotive) that have seen firm demand in spite of depressed LME prices. We believe that Kaiser is entering a sweet spot as aluminum plate inventory levels have improved, capacity additions are limited and aerospace and automotive build rates push higher."
"...we are increasing our full year 2012 and 2013 adjusted EBITDA estimates to $153 MM and $180 MM from $136 MM and $160 MM, respectively."
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 $52.15 yesterday.
Anthony B. Rizzuto, said, "Though LME aluminum ingot prices remain depressed, Kaiser has steadily increased profitability by passing through metal costs and focusing on increasing value added revenue per pound (see Exhibit 1). Achieving such increases is possible due to Kaiser's position in key products and end-markets (such as plate for aerospace and automotive) that have seen firm demand in spite of depressed LME prices. We believe that Kaiser is entering a sweet spot as aluminum plate inventory levels have improved, capacity additions are limited and aerospace and automotive build rates push higher."
"...we are increasing our full year 2012 and 2013 adjusted EBITDA estimates to $153 MM and $180 MM from $136 MM and $160 MM, respectively."
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 $52.15 yesterday.
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