Alcoa could hit $100 if metal prices hold, BMO says as analysts praise [Seeking Alpha]
Alcoa Corporation (AA)
Last alcoa corporation earnings: 4/22 04:10 pm
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Source: Seeking Alpha
Alcoa could hit $100 if metal prices hold, BMO says as analysts praiseAlcoa (NYSE:AA)+4% premarket after beatingQ1 earnings estimates andraising 2018 EBITDA guidance, sparked by the recent rally in aluminum and alumina prices.BMO Capital's David Gagliano thinks the shares have the potential to hit $100 if current prices stick, given the near-term alumina squeeze; the firm rates AA at Outperform and raises its price target to $80 from $63.Alcoa seems cheap when using current metal prices, Deutsche Bank says, but the sustainability of the recent rally is now the largest question mark; AA is long all three commodities of the aluminum value chain, and seems primed to return excess cash to shareholders by H2.Morgan Stanley notes that at spot aluminum and alumina prices, Alcoa's free cash flow yield will be closer to 20%, and every week prices stay at current levels, AA may generate ~$40M in free cash flow.Source: Bloomberg First WordSee all stocks on the move »Now read:Alcoa +4% after beat
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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