Globe Specialty Metals Inc. (GSM)

[Mattylite]

Rebound Far From Done for Globe Specialty Metals - Market Talk
8 days 23 hours 58 minutes ago - DJNF


8:25 EDT - Globe Specialty Metals (GSM) has jumped nearly 1/3 since early July amid rebounding silicon-metals prices in the US and China thanks to stout domestic auto production, "recently imposed antidumping duties on Chinese silicon metal into Canada and the idling of two of GSM's three furnaces in Canada due to a work stoppage," notes B Riley. "We had planned to reassess our outlook for GSM toward the end of October, when GSM begins contracting for 2014 silicon metal delivery, but with prices improving rapidly we feel it would be imprudent to wait." So the investment bank upgrades GSM to buy and hikes its price target to $18 from $13 while also boosting earnings views. It's up 1.9% premarket at $14.44, a 6-month high. ([e-mail])
(END) Dow Jones Newswires
September 16, 2013 08:26 ET (12:26 GMT)