Alcoa's stock rallies after B. Riley FBR analyst turns bullish [MarketWatch]
Alcoa Corporation (AA)
Last alcoa corporation earnings: 4/22 04:10 pm
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Source: MarketWatch
Alcoa's stock rallies after B. Riley FBR analyst turns bullish Shares of Alcoa Corp. AA, +0.15% rose 1% in premarket trade, after B. Riley FBR analyst Lucas Pipes turned bullish on the aluminum producer, saying higher than expected alumina prices should benefit the company's near-term outlook and earnings power. Pipes raised his rating to buy from neutral, and raised his price target to $50, which is 22% above Tuesday's closing price, from $48. He said the recent weakness in the stock stems primarily from increasing macro concerns and trouble spots in copper, which he believes "opens up an attractive valuation point for Alcoa." Pipes said the aluminum market is projected to remain tight as demand outpaces supply through 2020 by 2.5% average annual growth. The stock had tumbled 17% over the past three months through Tuesday, while the S&P 500 SPX, +0.06% has gained 3.6%. Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.
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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
- 4/24/24 - Form DEFA14A
- 4/18/24 - Form DEFA14A
- 4/17/24 - Form DEFA14A
- AA's page on the SEC website