Alcoa's stock falls after Goldman downgrades, cuts price target [MarketWatch]
Alcoa Corporation (AA)
Last alcoa corporation earnings: 4/22 04:10 pm
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Source: MarketWatch
Alcoa's stock falls after Goldman downgrades, cuts price target Shares of Alcoa Corp. AA, -0.92% fell 1.5% in morning trading Monday, after Goldman Sachs analyst Matthew Korn backed away from his bullish stance on the aluminum company, citing expectations of lower prices in the near term, and fewer catalysts down the road. Korn cut his rating to neutral from buy, and lowered his stock price target to $25 from $30. A ramp-up at a large Brazil-based alumina refinery and weaker demand from China have kept prices lower than previously forecast, Korn said. "The big picture is unchanged and fundamentally challenged: A slowing China, growing U.S. steel capacity and fears of global recession continue to be front of mind for investors and colar nearly every conversation we have on the stocks," Korn wrote. He said potential for meaningful resolution of the U.S.-China trade war seems "thin" and he senses "tempered expectations" for China's stimulus measures. Separately, Korn downgraded Schnit
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News
- What's Hurting The Aluminum Market Should Be Good For Alcoa [Seeking Alpha]Seeking Alpha
- 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
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