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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

BMRN

BioMarin

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-1.12 (-1.34%)

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Eisai

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CELG

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INCY

Incyte

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INCY

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PFE

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JUNO

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JUNO

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KITE

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BLUE

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NVS

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0.42 (0.62%)

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BMRN

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, ESALY

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BMRN

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GWPH

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IART

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NVTA

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WTKWY

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ZGNX

Zogenix

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ZYNE

Zynerba

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0.83 (6.48%)

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WMT

Wal-Mart

$70.88

0.21 (0.30%)

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GMED

Globus Medical

$21.89

0.12 (0.55%)

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TLN

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UMBF

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IM

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$38.88

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HMST

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JNJ

Johnson & Johnson

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0.58 (0.52%)

, ALIOF

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CE

Celanese

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ZEN

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ZEN

Zendesk

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AIXG

Aixtron

$3.97

-0.05 (-1.24%)

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CX

CEMEX

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SRNE

Sorrento Therapeutics

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MBRX

Moleculin Biotech

$2.63

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NEOG

Neogen

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-1.46 (-2.32%)

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RRC

Range Resources

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EOG

EOG Resources

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-1.01 (-0.96%)

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HMST

HomeStreet

$29.35

-0.2 (-0.68%)

, UMBF

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UMBF

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UMBF

UMB Financial

$77.00

-0.43 (-0.56%)

, IM

Ingram Micro

$38.88

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IM

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GMED

Globus Medical

$21.89

0.12 (0.55%)

, TLN

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