Auriga Maintains a 'Buy' on Globe Specialty Metals (GSM); In-line Results; Pricing Still An Issue
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Price: $4.39 +0.23%
Rating Summary:
3 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Auriga maintains a 'Buy' on Globe Specialty Metals (NASDAQ: GSM) price target of $20.00.
Analyst, Dan Whalen, said, "While higher than anticipated top-line results, driven by higher shipment volumes, were offset by higher expenses, we viewed the results as essentially in-line with expectations. However, to reflect ongoing headwinds from pricing trends, we are reducing our fiscal F4Q12 EPS estimate to $0.16 from $0.23 and our fiscal 2013 EPS estimate to $1.10 from $1.30. Nonetheless, given the combination of management's active management of its portfolio of assets and improving end market fundamentals, we believe these shares are suitable for value investors with longer-term investment horizons."
For an analyst ratings summary and ratings history on Globe Specialty Metals click here. For more ratings news on Globe Specialty Metals click here.
Shares of Globe Specialty Metals closed at $13.15 yesterday.
Analyst, Dan Whalen, said, "While higher than anticipated top-line results, driven by higher shipment volumes, were offset by higher expenses, we viewed the results as essentially in-line with expectations. However, to reflect ongoing headwinds from pricing trends, we are reducing our fiscal F4Q12 EPS estimate to $0.16 from $0.23 and our fiscal 2013 EPS estimate to $1.10 from $1.30. Nonetheless, given the combination of management's active management of its portfolio of assets and improving end market fundamentals, we believe these shares are suitable for value investors with longer-term investment horizons."
For an analyst ratings summary and ratings history on Globe Specialty Metals click here. For more ratings news on Globe Specialty Metals click here.
Shares of Globe Specialty Metals closed at $13.15 yesterday.
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