March 12, 2018 / 2:20 PM / in 9 months

BUZZ-Century Aluminum: stock shines on BMO upgrade to "outperform"

** Century Aluminum Co rose nearly 8 pct early Mon after BMO upgrades stock to “outperform” from “market perform,” raises PT by $8 to $28, highest on the Street

** Stock currently up 3.0 pct to $20.76

** Analyst David Gagliano sees post-tariff spike in volumes and Midwest premiums, believes stock price does not reflect valuation implications

** On Feb 27, US Commerce Dept said China aluminum imports dumped and subsidized, saying “we will not allow American workers and businesses to be harmed by unfair imports”

** On Feb 23, CEO Michael Bless told Reuters aluminum tariffs would lead to worker rehires, ramped up output by early 2019

** Of 5 analysts covering CENX, only BMO recommends buying stock, rest rate “hold”; median PT $20

** Over the last 12 months, CENX stock has surged 68 pct, outperforming the ~18 pct advance seen by the S&P 600 Materials index (Reporting by Stephen Culp)

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