DA Davidson Upgrades Sims Metal Management (SMS) to Neutral; Risks Mostly Discounted After Share Price Drop
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Price: $9.17 --0%
Rating Summary:
2 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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DA Davidson upgraded Sims Metal Management (NYSE: SMS) from Underperform to Neutral, price target lowered from $12 to $11.50.
Analyst, Brent Thielman, said, "These shares could see additional pressure near term as we see no visible signs of market improvement. However, any potential signals of stabilization in scrap prices/demand could improve sentiment while tangible book value of ~$8.50 per share should represent a floor for the stock. We are upgrading our rating back to NEUTRAL as the shares appear to be mostly discounting near-term risks."
"Our 2H’12 estimate declines to A$0.19 per share from A$0.43 previously. We are forecasting a more conservative recovery in fiscal 2013 (modeling A$0.55 per share compared to A$1.00 per share previously)."
For an analyst ratings summary and ratings history on Sims Metal Management click here. For more ratings news on Sims Metal Management click here.
Shares of Sims Metal Management closed at $10.81 yesterday.
Analyst, Brent Thielman, said, "These shares could see additional pressure near term as we see no visible signs of market improvement. However, any potential signals of stabilization in scrap prices/demand could improve sentiment while tangible book value of ~$8.50 per share should represent a floor for the stock. We are upgrading our rating back to NEUTRAL as the shares appear to be mostly discounting near-term risks."
"Our 2H’12 estimate declines to A$0.19 per share from A$0.43 previously. We are forecasting a more conservative recovery in fiscal 2013 (modeling A$0.55 per share compared to A$1.00 per share previously)."
For an analyst ratings summary and ratings history on Sims Metal Management click here. For more ratings news on Sims Metal Management click here.
Shares of Sims Metal Management closed at $10.81 yesterday.
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