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Fly News Breaks for February 3, 2017
AA
Feb 3, 2017 | 07:56 EDT
As previously reported, BofA/Merrill upgraded Alcoa two notches to Buy from Underperform and raised its price target to $45 from $35. Analyst Timna Tanners is more positive on structural demand for the global aluminum market as China seems more inclined to contain capacity and the WTO complaint filed by the US has helped send the Midwest premium up in recent weeks. The analyst had questioned the sustainability of aluminum and alumina price strength but said mark-to-market analysts recently pointed to 60% EBITDA upside for 2017.
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