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Fly News Breaks for December 1, 2016
ARNC, AA
Dec 1, 2016 | 07:23 EDT
Deutsche Bank analyst Jorge Beristain initiated Alcoa (AA) with a Sell rating and $26 price target, following its spin-off from Arconic (ARNC), as he believes the roughly 30% run-up in the stock in the month since the break-up has moved its price to a level that more-than-fully reflects the value from Alumina Ltd. He also sees the company's complex structure and Arconic's pending 19.9% stake sales as added headwinds.
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