Alcoa shares pull back sharply after earnings, but analysts boost price targets [MarketWatch]
Alcoa Corporation (AA)
Last alcoa corporation earnings: 4/22 04:10 pm
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Source: MarketWatch
Alcoa's stock pulls back sharply, but analysts boost price targets Shares of Alcoa Corp. AA, +1.33% tumbled 6.5% in premarket trade Thursday, after the alumina and aluminum producer missed fourth-quarter profit and revenue expectations , but some analysts raised their price targets, citing rising aluminum prices and the potential for a return of capital to shareholders. The stock closed Wednesday at the highest level since September 2008; the company reported results after the closing bell. J.P. Morgan analyst Michael Gambardella kept his rating at overweight, but boosted his price target to $68 from $55. He said as long as alumina and aluminum prices hold, he believes Alcoa will start looking to return cash to shareholders and further reduce its debt and pension obligations. "We also think [Alcoa's] stock could benefit from its potentially being added to the S&P 500 in the next few months," Gambardella said. Cowen analyst Novid Rassouli lifted his stock price target to $59 from $5
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News
- Industrial leader Dag J. Opedal elected to be the new Chair of HydrogenPro ASA [Yahoo! Finance]Yahoo! Finance
- Alcoa raised at Morgan Stanley on cost saving measures [Seeking Alpha]Seeking Alpha
- Alcoa Co. (NYSE: AA) was upgraded by analysts at Morgan Stanley from an "underweight" rating to an "equal weight" rating. They now have a $36.50 price target on the stock, up previously from $28.50.MarketBeat
- Alcoa Co. (NYSE: AA) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
- Alcoa Corporation (NYSE:AA) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
AA
Earnings
- 4/17/24 - Miss
AA
Sec Filings
- 4/18/24 - Form DEFA14A
- 4/17/24 - Form DEFA14A
- 4/17/24 - Form DEFA14A
- AA's page on the SEC website