Century Aluminum upgraded to Neutral from Sell at Goldman Goldman Sachs upgraded Century Aluminum to Neutral citing improving aluminum fundaments and the company's cost cutting initiatives. The firm raised its price target for shares to $15.50 from $8.
Aluminum prices decline on excess supply, Bloomberg says Aluminum prices have been under pressure as prices for the metal fell 9.4% in May in the largest monthly drop since October 2012, says Bloomberg. According to the Bloomberg report aluminum producers in China have been encouraged by cheap coal to operate their furnaces and may expand exports. Companies in the aluminum space include Alcoa (AA) and Century Aluminum (CENX). Reference Link