In a report published Monday, Jefferies reiterated its Hold rating on Globe Specialty Metals GSM, and raised its price target from $13.75 to $15.00.
Jefferies noted, “We maintain our HOLD rating following F2Q13 results, seeing insufficient upside potential to warrant recommending the shares on what we believe to be reasonable bull case silicon pricing and earnings assumptions for CY13-14.”
Globe Specialty Metals closed on Friday at $15.40.
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