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Timminco price target raised at Raymond James
Posted on May 09, 2008
Raymond James analyst Andy Nasr increased his price target on Timminco Ltd. Friday following a news-heavy Thursday for the company that included first quarter earnings, a new contract and a positive operational review of it production facilities. Mr. Nasr told clients in a note that he raised his target from $15 to $19 after factoring in higher solar-grade silicon prices in 2008. Even so, he maintained his underperform rating on the stock in light of Timminco's current share price, which fell 7% or $1.86 to $22.99 in trading on Friday. As stated in our recent initiation of coverage repo...
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