Wolfe downgrades Century Aluminum to Underperform on 'deteriorated' outlook - InvestingChannel

Wolfe downgrades Century Aluminum to Underperform on ‘deteriorated’ outlook

Wolfe Research analyst Timna Tanners downgraded Century Aluminum to Underperform from Peer Perform with a $4 price target. The company’s earnings outlook has “deteriorated” with lower aluminum prices and higher power costs, Tanners tells investors in a research note. The analyst says this “can spark liquidity concerns,” with much of Century’s challenges due to macro factors out of management’s control. Tanners sees a “perfect storm” of a weaker aluminum prices coinciding with elevated power costs.

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