RBC Capital upgraded Norsk Hydro (NHYDY) to Outperform from Sector Perform with an unchanged price target of NOK 80. The shares have substantially de-rated and is already pricing in an aluminum price of $0.90/lbs, making it the most defensive exposure among the base metals, the analyst tells investors in a research note.
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Read More on NHYDY:
- Norsk Hydro price target lowered to NOK 75 from NOK 100 at Barclays
- Norsk Hydro price target lowered to NOK 79 from NOK 83 at JPMorgan
- Norsk Hydro downgraded to Neutral from Buy at Goldman Sachs
- Norsk Hydro price target lowered to NOK 60 from NOK 75 at Citi
- Norsk Hydro price target lowered to NOK 85 from NOK 91 at Morgan Stanley