NEW YORK, October 11 (newratings.com) - Analysts at UBS maintain their "buy" rating on Alumina Ltd (WMC.NYS), while reducing their estimates for the company. The target price has been reduced from $8.30 to $8.15.
In a research note published this morning, the analysts mention that the company has reported its 3Q earnings short of expectations. The shortfall was on account of lower-than-expected realised prices, unfavourable currency effects and higher-than-anticipated energy costs, the analysts say. The earnings estimate for 2006 has been reduced by 9% to $630 million.
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