Ferroglobe price target lowered to $8 from $9 at B. Riley

B. Riley lowered the firm’s price target on Ferroglobe (GSM) to $8 from $9 and keeps a Buy rating on the shares following the Q1 report. The EBITDA miss was primarily driven by lower sales and realizations in the silicon metal and manganese-based alloys segments, the analyst tells investors in a research note. The firm says that despite the soft Q1 results, Ferroglobe maintained its full-year adjusted EBITDA guidance.