Wells Fargo Raises Century Aluminum (CENX) Price Target

Century Aluminum Company (NASDAQ:CENX) is one of the 10 Best Performing Blue Chip Stocks to Buy. On April 2, Century Aluminum Company (NASDAQ:CENX) reported that President Donald Trump’s new executive order will close valuation loopholes that importers were using to avoid tariffs on steel and aluminum. The company celebrates the recent executive order as it believes this move will help create a more level playing field for US manufacturers.

The Section 232 tariff on primary aluminum remains unchanged at 50%. According to the report by Century Aluminum Company (NASDAQ:CENX), it has increased US aluminum production by 10% since Section 232 was reinforced last year. The company also said it is investing for the long term and has committed billions of dollars to expand capacity, which it expects will double US production while also creating thousands of jobs over time.

Earlier, on March 12, Wells Fargo raised its price target on Century Aluminum Company (NASDAQ:CENX) from $61 to $69 and maintained an Overweight rating on the stock.

The research firm raised its aluminum price forecast after its recent supply-and-demand analysis showed a larger supply deficit expected in 2026. This was even before the risk of further Middle East smelter closures. Wells Fargo noted that “steep” electricity costs are also likely to support aluminum prices.

Century Aluminum Company (NASDAQ:CENX) is a global metals and mining company focused on bauxite, alumina, and aluminum. The company has operations in the US, Iceland, Jamaica, and the Netherlands.

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