Morgan Stanley Ups Century Aluminum to Overweight
Morgan Stanley upgraded Century Aluminum (CENX ) to overweight from equal-weight, explaining that the tight aluminum market should begin to ease in mid-2006.
Analyst Wayne Atwell says higher projected costs have led him to raise his aluminum price forecasts. He sees the company earning $2.87 per share in 2005 and $3.45 in 2006. He also set a $32 target.