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AA

Alcoa

$27.91

-3.6 (-11.42%)

08:18
10/12/16
10/12
08:18
10/12/16
08:18

Alcoa downgraded to Neutral on aerospace issues at BofA/Merrill

As previously reported, BofA/Merrill downgraded Alcoa to Neutral from Buy and lowered its price target to $30 from $33. Analyst Timna Tanners believes Alcoa's aerospace-focused downstream segment will continue to struggle with execution issues and delays over the next several quarters. The analyst cut our estimates to reflect a weaker aerospace view and sees risk to Alcoa's guidance and continued margin pressures.

AA Alcoa
$27.91

-3.6 (-11.42%)

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.
10/11/16
BOFA
10/11/16
DOWNGRADE
BOFA
Neutral
Alcoa downgraded to Neutral from Buy at BofA/Merrill

TODAY'S FREE FLY STORIES

MRSN

Mersana Therapeutics

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BLUE

bluebird bio

$106.90

-4.2 (-3.78%)

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ADNT

Adient

$63.20

-1.63 (-2.51%)

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GIS

General Mills

$55.52

-0.65 (-1.16%)

, MON

Monsanto

$117.25

-0.55 (-0.47%)

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MON

Monsanto

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PAYX

Paychex

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AAPL

Apple

$143.73

-2.09 (-1.43%)

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Apple looks to hire 'Siri Event Maven,' 9to5Mac reports »

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TOSBF

Toshiba, also use TOSYY

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Toshiba, also use TOSBF

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Toshiba, also use TOSYY

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TOSYY

Toshiba, also use TOSBF

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FB

Facebook

$150.58

-3.01 (-1.96%)

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Facebook previously explored effort to promote flu shots, CNBC reports »

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AAPL

Apple

$143.73

-2.09 (-1.43%)

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GOOG

Alphabet

$927.33

-24.94 (-2.62%)

, GOOGL

Alphabet Class A

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-24 (-2.47%)

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GOOG

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GOOGL

Alphabet Class A

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APO

Apollo Global

$25.90

-0.33 (-1.26%)

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QCOM

Qualcomm

$55.43

-1.13 (-2.00%)

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Judge says FTC suit against Qualcomm can proceed, Reuters reports »

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LNEGY

Linde

$19.25

0.08 (0.42%)

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Linde unit agrees to $20M settlement deal in whistleblower case, Reuters says »

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HCHC

HC2 Holdings

$5.82

0.03 (0.52%)

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HC2 Holdings subsidiary to acquire major interest in DTVA »

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MRK

Merck

$65.54

-0.38 (-0.58%)

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  • 22

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TROX

Tronox

$13.52

-0.25 (-1.82%)

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ANCUF

Alimentation Couche-Tard

$49.16

1.0803 (2.25%)

, CST

CST Brands

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MSLI

Merus Labs

$1.23

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EIGI

Endurance

$8.20

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HII

Huntington Ingalls

$186.97

0.68 (0.37%)

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IP

International Paper

$56.18

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HUSA

Houston American Energy

$0.67

0.0385 (6.10%)

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KBH

KB Home

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0.04 (0.18%)

, RYI

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KBH

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RYI

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AVAV

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CAMP

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GMRE

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WLL

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OAS

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  • 27

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CHKE

Cherokee

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KBH

KB Home

$22.82

0.04 (0.18%)

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KBH

KB Home

$22.82

0.04 (0.18%)

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