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0 -0.00324939073923644 -0.00406173842404549 -0.00162469536961822 -0.00698619008935824 0.00812347684809098 -0.00227457351746548 0.00129975629569453
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Alcoa could hit $100 if metal prices hold, BMO says as analysts praise [Seeking Alpha]

ALCOA (AA)  More Company Research Source: Seeking Alpha
Last alcoa earnings: 10/17 04:10 pm Check Earnings Report
US:NYSE Investor Relations: investors.alcoa.com
PDF 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 [Read more]

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