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AA

Alcoa

$31.51

0.14 (0.45%)

07:49
10/11/16
10/11
07:49
10/11/16
07:49

Alcoa sees Global Rolled Products revenue $4.8B-$5B for FY16

Alcoa is providing new full-year 2016 goals to reflect near-term industry challenges and foreign exchange impacts. In aerospace, this includes an unprecedented industry ramp-up to new platforms, destocking and supply chain optimization in airframes. Global Rolled Products targets revenue of $4.8 billion to $5.0 billion for full year 2016. This is revised from $5.0 billion to $5.2 billion for full year 2016, a target adjusted from the earlier $6.0 billion to $6.2 billion to reflect the transfer of the rolling mill in Warrick, Indiana, to the future Alcoa Corporation; the impact of a tolling arrangement between Alcoa Corporation and Arconic for can body sheet at Tennessee Operations; and the updated impact for changes in both the London Metal Exchange aluminum price and foreign currency exchange rate assumptions versus 2013. The goal for adjusted EBITDA per metric ton remains unchanged at or above average historical highs of $344. Engineered Products and Solutions targets revenue of $5.6 billion to $5.8 billion for full year 2016, revised from $5.9 billion to $6.1 billion, and an adjusted EBITDA margin of approximately 21 percent, revised from 21 to 22 percent. Transportation and Construction Solutions targets revenue of $1.7 billion to $1.8 billion, revised from $2.1 billion, and an adjusted EBITDA margin of approximately 15 percent, which remains unchanged.

  • 11

    Oct

AA Alcoa
$31.51

0.14 (0.45%)

05/23/16
BOFA
05/23/16
UPGRADE
BOFA
Buy
Alcoa upgraded to Buy from Neutral at BofA/Merrill
05/23/16
05/23/16
UPGRADE
Target $11

Buy
Alcoa upgraded to Buy from Neutral at BofA/Merrill
As previously reported, BofA/Merrill upgraded Alcoa to Buy from Neutral and raised its price target to $11 from $10.50. Analyst Timna Tanners said aluminum and alumina has become a lesser portion of Alcoa's earnings yet shares have become increasingly correlated to aluminum pricing while aerospace exposure now leaves it with an estimated 75% of its earnings levered to the segment. Tanners is confident in an upswing in aero-heavy downstream results and sees engine deliveries up 10% in 2016 and 18% in 2017. The analyst views the recent pullback in Alcoa shares as a buying opportunity given reduced commodity exposure and increased aero contribution.
09/09/16
GHSC
09/09/16
INITIATION
Target $11
GHSC
Neutral
Alcoa initiated with a Neutral at Seaport Global
Seaport Global analyst Josh Sullivan initiated Alcoa with a Neutral and $11 price target.
09/09/16
09/09/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. American Express (AXP) initiated with an Underweight at Atlantic Equities. 2. Alcoa (AA) initiated with a Neutral at Seaport Global. 3. Blue Buffalo Pet Products (BUFF) initiated with an Outperform at Oppenheimer. 4. Harley-Davidson (HOG) initiated with an Outperform at Bernstein. 5. Verifone (PAY) initiated with a Buy at BTIG. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

ILG

ILG

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PRGX

PRGX Global

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PDCE

PDC Energy

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JUNO

Juno Therapeutics

$24.04

0.64 (2.74%)

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SBGI

Sinclair Broadcast

$39.90

-0.05 (-0.13%)

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PRGX

PRGX Global

$6.25

0.45 (7.76%)

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TXT

Textron

$49.46

2.16 (4.57%)

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  • 06

    Mar

NUS

Nu Skin

$49.41

-0.13 (-0.26%)

, EQY

Equity One

$31.20

-0.46 (-1.45%)

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EQY

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REG

Regency Centers

$69.37

-0.98 (-1.39%)

, ENDP

Endo

$13.65

0.36 (2.71%)

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REG

Regency Centers

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ENDP

Endo

$13.65

0.36 (2.71%)

EQY

Equity One

$31.20

-0.46 (-1.45%)

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ENDP

Endo

$13.65

0.36 (2.71%)

, REG

Regency Centers

$69.37

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ENDP

Endo

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XOP

SPDR Oil Exploration and Production Fund

$38.88

1.0201 (2.69%)

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MNST

Monster Beverage

$41.44

-0.65 (-1.54%)

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IPXL

Impax

$14.25

-0.4 (-2.73%)

14:45
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14:45
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General news
Market remains at record levels in afternoon trading »

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GD

General Dynamics

$192.22

2.41 (1.27%)

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P

Pandora

$12.26

-0.125 (-1.01%)

, SIRI

Sirius XM

$5.09

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P

Pandora

$12.26

-0.125 (-1.01%)

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Sirius XM

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GNW

Genworth

$4.14

0.0501 (1.22%)

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GD

General Dynamics

$192.08

2.27 (1.20%)

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SPY

SPDR S&P 500 ETF Trust

$240.20

3.73 (1.58%)

, SPX

S&P 500

$2,399.94

36.3 (1.54%)

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SPY

SPDR S&P 500 ETF Trust

$240.20

3.73 (1.58%)

SPX

S&P 500

$2,399.94

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KAR

KAR Auction

$45.02

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APD

Air Products

$142.94

2.47 (1.76%)

, MPC

Marathon Petroleum

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APD

Air Products

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MPC

Marathon Petroleum

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CETX

Cemtrex

$3.54

-0.28 (-7.33%)

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MDCA

MDC Partners

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  • 03

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BUD

AB InBev

$109.93

0.44 (0.40%)

, KR

Kroger

$32.09

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KR

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BURL

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JOY

Joy Global

$28.20

0.005 (0.02%)

ANF

Abercrombie & Fitch

$11.25

-0.51 (-4.34%)

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14:25
03/01/17
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General news
Treasury Action: yields remained elevated »

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