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AA

Alcoa

$43.30

1.26 (3.00%)

05:00
11/29/17
11/29
05:00
11/29/17
05:00

Alcoa to benefit little from aluminum trade actions, says Citi

The U.S. Department of Commerce yesterday self-initiated antidumping and countervailing duty investigations of common alloy aluminum sheet from China, Citi analyst Alexander Hacking tells investors in a research note. The analyst sees "very limited" direct benefit to Alcoa given that can sheet is excluded. Hacking also sees "limited positive read through" for the steel sector, since the action exclusively targets China. The analyst keeps a Buy rating on Alcoa with a $55 price target.

AA Alcoa
$43.30

1.26 (3.00%)

10/04/17
10/04/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. AutoNation (AN) downgraded to Neutral from Buy at Northcoast with analyst John Healy citing the recent strength in shares. 2. Winnebago (WGO) downgraded to Hold from Buy at Stifel with analyst Michael Baudendistel saying he believes new products and efficiency improvements will help drive near-term growth better than industry average, but he also thinks such expectations are more than fully priced into the stock. 3. Advance Auto Parts (AAP) downgraded to Market Perform at Raymond James with analyst Dan Wewer citing growing business risks facing the profit recovery story. 4. Cedar Fair (FUN) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Christopher Prykull saying he sees less upside to consensus estimate with rainy weather hurting amusement park results from Memorial Day to Labor Day. 5. Alcoa (AA) downgraded to Hold from Buy at Gabelli with the firm saying the cycle may be "long in the tooth," valuation is less compelling, and a Rio Tinto (RIO) merger is less likely until prices normalize. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/10/17
MACQ
10/10/17
NO CHANGE
Target $62
MACQ
Outperform
Alcoa price target raised to $62 from $55 at Macquarie
Macquarie analyst David Lipschitz raised his aluminum forecast once again by 4-8% over the next few years to reflect the more upbeat atmosphere. As a result, the analyst raised Alcoa's price target to $62 from $55 and reiterated an Outperform rating.
10/11/17
COWN
10/11/17
NO CHANGE
Target $51
COWN
Market Perform
Alcoa best positioned in space given earnings leverage, says Cowen
Cowen analyst Novid Rassouli expects aluminum producers' earnings to improve sequentially in Q3 driven by higher aluminum prices. He also said he sees limited downside risk in Q4 for prices but is cautious on upstream producer margins given rising raw material costs. Rassouli said Alcoa is best positioned given its earnings leverage to the aluminum price momentum and its partially hedged cost structure. Rassouli maintained his Market Perform rating and $51 price target on Alcoa shares.
10/19/17
JPMS
10/19/17
NO CHANGE
Target $60
JPMS
Overweight
Alcoa price target raised to $60 from $56 at JPMorgan
JPMorgan analyst Michael Gambardella raised his price target for Alcoa to reflect higher alumina prices following the company's "solid" Q3 results. Alcoa remains the analyst's top pick in the non-ferrous metals space. He keeps an Overweight rating on the shares.

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ACHN

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TEVA

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CXRX

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AngloGold

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AKS

AK Steel

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NDSN

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FL

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, UA

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DDR

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AAL

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