Alcoa raised at Morgan Stanley on cost saving measures [Seeking Alpha]
Alcoa Corporation (AA)
Last alcoa corporation earnings: 4/22 04:10 pm
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Source: Seeking Alpha
from $28, citing continued progress on cost saving measures, reduced uncertainty on the path to resolving bauxite mining issues in Western Australia, and potentially more IRA benefits to come. Morgan Stanley's Carlos de Alba thinks operational concerns that persisted throughout 2023 have largely been de-risked, and that Alcoa ( AA ) made solid progress in Q1 on its cost reduction efforts as part of an action plan that aims to generate a ~$645M annualized EBITDA uplift, adding the current aluminum price environment has made the self-help measures easier to execute. Further, Alcoa ( AA ) may benefit from more Inflation Reduction Act tax credits for aluminum if the credits are expanded to include raw materials, the analyst says. However, following a significant run-up in the stock price and continued uncertainty around the future of San Ciprian, de Alba sees the outlook for Alcoa ( AA ) shares as fairly balanced. Recommended For You More Trending News Recommended For You Mo
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News
- Why Howmet Aerospace Stock Is Soaring Higher Today [Yahoo! Finance]Yahoo! Finance
- 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 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
- 5/2/24 - Form 10-Q
- 4/30/24 - Form DEFA14A
- 4/24/24 - Form DEFA14A
- AA's page on the SEC website