Global Brass and Copper downgraded to Neutral from Buy at Goldman Goldman Sachs downgraded Global Brass and Copper Holdings to Neutral citing a decline in munition demand and lower margins from import pressures following the company's Q3 results. Goldman dropped its price target for shares to $14.50 from $19.
Global Brass & Copper lowers 2014 adjusted revenue to $529M-$537M Previous adjusted revenue view was $568M-$575M. Lowers 2014 adjusted EBITDA to $108M-$111M from $118M-$123M. Lowers 2014 shipment volume view to 510M-518M pounds from 536M-542M pounds.