Globe Specialty Metals Inc. (GSM) Rating Lowered to Neutral at JPMorgan Chase & Co.
Globe Specialty Metals Inc. (NASDAQ:GSM) was downgraded by JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report released on Tuesday. They currently have a $10.00 price target on the stock, down from their prior price target of $12.00. JPMorgan Chase & Co.’s price objective would indicate a potential downside of 14.68% from the company’s previous close.
Other equities research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Globe Specialty Metals from a “sell” rating to a “hold” rating in a research note on Tuesday, September 13th. Jefferies Group set a $11.00 price objective on shares of Globe Specialty Metals and gave the stock a “buy” rating in a research note on Monday, August 29th. Stifel Nicolaus reduced their price objective on shares of Globe Specialty Metals from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, August 29th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $12.00 price objective (down from $14.00) on shares of Globe Specialty Metals in a research note on Monday, August 29th. Finally, Robert W. Baird upgraded shares of Globe Specialty Metals from a “neutral” rating to a “buy” rating in a research note on Monday, September 19th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $12.79.
Shares of Globe Specialty Metals (NASDAQ:GSM) opened at 11.72 on Tuesday. The company’s 50-day moving average price is $9.35 and its 200 day moving average price is $9.02. The company’s market cap is $2013.94 billion. Globe Specialty Metals has a 52 week low of $6.90 and a 52 week high of $13.17.
About Globe Specialty Metals
Ferroglobe PLC, formerly VeloNewco Limited, is engaged in silicon and specialty metals industry. The Company produces silicon metal and silicon- and manganese-based alloy, which serves customers in the chemical, aluminum, solar, steel and ductile iron foundry industries. It operates through two segments: Electrometallurgy and Energy.
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