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KALU

Kaiser Aluminum

$95.05

1.95 (2.09%)

, CSTM

Constellium

$7.57

-0.09 (-1.17%)

12:45
01/08/19
01/08
12:45
01/08/19
12:45

Little relief for aluminum users from removal of Rusal sanctions, Reuters says

Consumers will not see much relief from U.S plans to lift sanctions from Russian aluminum producer Rusal, says Reuters. "The tariffs will be paid by American consumers and the only winners are American primary aluminum producers who do not have to pay the duty," a source at an aluminum producer said. "We can't sell at a loss, premiums for exporting to the U.S. need to stay high." Publicly traded companies in the space include, Alcoa (AA), Century Aluminum (CENX), Constellium (CSTM) and Kaiser Aluminum (KALU). Reference Link

KALU

Kaiser Aluminum

$95.05

1.95 (2.09%)

CSTM

Constellium

$7.57

-0.09 (-1.17%)

CENX

Century Aluminum

$8.51

-0.21 (-2.41%)

AA

Alcoa

$28.50

0.13 (0.46%)

  • 16

    Jan

KALU Kaiser Aluminum
$95.05

1.95 (2.09%)

07/16/18
JEFF
07/16/18
INITIATION
Target $122
JEFF
Hold
Kaiser Aluminum initiated with a Hold at Jefferies
Jefferies analyst Martin Englert started Kaiser Aluminum with a Hold rating and $122 price target. The analyst says "haphazard" government policy from trade actions have "upended" the global aluminum markets.
08/13/18
GSCO
08/13/18
DOWNGRADE
Target $101
GSCO
Sell
Kaiser Aluminum downgraded to Sell from Neutral at Goldman Sachs
Goldman Sachs analyst Matthew Korn downgraded Kaiser Aluminum to Sell from Neutral and lowered his price target to $101 from $105. The analyst says that a mismatch has opened up between the valuation of the stock - 8.9-times forward earnings vs. 7.2-times 5-year average - and the relative strength of its outlook, though he notes that his profitability expansion includes some conservatism. Korn adds that while the headwinds of higher aluminum costs are fading, destocking and commoditization are still weighing on Kaiser Aluminum's markets.
10/23/18
JEFF
10/23/18
UPGRADE
Target $123
JEFF
Buy
Jefferies upgrades Kaiser Aluminum to Buy following recent selloff
Jefferies analyst Martin Englert upgraded Kaiser Aluminum (KALU) to Buy from Hold and raised his price target for the shares to $123 from $122. The company's "challenging" Q3 was "somewhat misconstrued" given likely transitory cost headwinds, none of which appear structural, Englert tells investors in a research note. He believes the pullback in shares offers a "tactical opportunity to buy ahead of improving fundamentals." Investors likely underappreciate Kaiser's leverage to ramping aerospace programs into 2019 and 2020, Englert contends. He points out that Kaiser has "significant" exposure to Boeing (BA) programs.
10/23/18
JEFF
10/23/18
UPGRADE
Target $123
JEFF
Buy
Kaiser Aluminum upgraded to Buy from Hold at Jefferies
Jefferies analyst Martin Englert upgraded Kaiser Aluminum to Buy and raised his price target for the shares to $123 from $122.
CSTM Constellium
$7.57

-0.09 (-1.17%)

07/16/18
JEFF
07/16/18
INITIATION
Target $14
JEFF
Buy
Constellium initiated with a Buy at Jefferies
Jefferies analyst Martin Englert started Constellium with a Buy rating and $14 price target. Management has made notable progress improving the company's maturity schedule and deleveraging, Englert tells investors in a research note. He sees the deleveraging accelerating as the auto-related capacity ramps improve free cash flow.
12/19/18
DBAB
12/19/18
NO CHANGE
Target $15
DBAB
Buy
Deutsche Bank closes short-term idea on Constellium
Deutsche Bank analyst Jeremy Kliewer closed his short-term idea on Constellium but remains "constructive" on the shares as a long term investment opportunity. The short term catalysts have occurred, including color on additional vehicle nominations ramping over the next couple of years and EBITDA guidance, Kliewer tells investors in a research note. The analyst, however, reiterates a Buy rating on Constellium with a $15 price target.
11/28/18
DBAB
11/28/18
NO CHANGE
DBAB
Buy
Deutsche Bank opens 'Buy Catalyst Call' on Constellium
Deutsche Bank analyst Jeremy Kliewer opens a "Buy Catalyst Call" on Constellium saying the December 13 investor day should provide a catalyst as the Street increases estimates. The analyst expects the equity to outperform peers and the S&P 500 Index as management provides details on how EBITDA and free cash flow should increase.
10/30/18
SOCG
10/30/18
UPGRADE
SOCG
Buy
Constellium upgraded to Buy from Hold at Societe Generale
CENX Century Aluminum
$8.51

-0.21 (-2.41%)

12/21/18
MSCO
12/21/18
INITIATION
Target $10
MSCO
Equal Weight
Century Aluminum initiated with an Equal Weight at Morgan Stanley
Morgan Stanley analyst Piyush Sood started Century Aluminum with an Equal Weight rating and $10 price target, stating that he thinks the stock appears to have "somewhat priced in" an expected decline in alumina pricing next year. While the stock has underperformed backward-integrated peers, Century Aluminum shares are still pricing in positive expectations for 2019, Sood contends, calling out Section 232, capacity growth, and reinvestment in the business as key issues to watch.
10/04/18
RILY
10/04/18
NO CHANGE
Target $20
RILY
Buy
Century Aluminum price target lowered to $20 from $23 at B. Riley FBR
B. Riley FBR analyst Lucas Pipes lowered his price target for Century Aluminum to $20 after adjusting his estimates for the company and Aloca (AA) to reflect expected Q3 price realizations and his firm's upgraded long-term price deck. The analyst keeps a Buy rating on the shares.
10/02/18
10/02/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. GE UPGRADED AT RBC, WOLFE: RBC Capital analyst Deane Dray upgraded General Electric (GE) to Outperform from Sector Perform and raised his price target for the shares to $15 from $13. The analyst believes a floor has been put in the shares following news of Larry Culp being named Chairman and CEO. Additionally, GE was upgraded to Outperform from Peer Perform at Wolfe Research. DEUTSCHE SEES HEIGHTENED RISKS TO FACEBOOK ESTIMATES: After attending the first day of AdWeek, Deutsche Bank analyst Lloyd Walmsley sees heightened risk to the Q3, Q4 and 2019 consensus estimates for Facebook (FB). The analyst said he's starting to hear more cautious feedback and that Facebook seems on the defensive, particularly following last week's data breach disclosure. Walmsley, however, continues to view Facebook as attractively valued and kept a Buy rating on the shares with a $205 price target. JPMORGAN ADDS WEIGHT WATCHERS TO FOCUS LIST: JPMorgan analyst Christina Brathwaite added Weight Watchers (WTW) to her firm's America's Analyst Focus while keeping an Overweight rating on the shares with a $120 price target. The stock's 30% pullback from its peak on June 20 presents a "compelling entry point for investors who missed the stock's appreciation the first time around," Brathwaite said. Despite the post-earnings selloff, the analyst believes the Q2 print was actually indicative that Weight Watchers' growth story remains on track. Further, she believes the changes announced last week, including its new rewards program, as well as the company's Invite a Friend program, will help drive member recruitment and retention going forward. AMBEV DOUBLE DOWNGRADED BY UBS: UBS analyst Alan Alanis double downgraded Ambev (ABEV) to Sell from Buy and lowered his price target for the shares to R$17 from R$23. AmBev trades at a 25% higher valuation than parent company AB InBev (BUD), which is unwarranted, Alanis believes. He believes Ambev shares at current levels are more than pricing in the company's favorable outlook. Further, he expects consensus estimates to come down due to a tougher competitive environment, a "tepid" Brazilian economic recovery and currency headwinds. DEUTSCHE DOWNGRADES METAL STOCKS: Deutsche Bank analyst Jeremy Kliewer downgraded Century Aluminum to Hold from Buy and lowered his price target for the shares to $15 from $20, stating that Century's margins could remain pressured for longer due to alumina supply disruptions. Meanwhile, Deutsche's Chris Terry downgraded Reliance Steel (RS) to Hold from Buy and lowered his price target for the shares to $90 from $100, and downgraded U.S. Steel (X) to Hold from Buy and lowered his price target for the shares to $35 from $47. The analyst said his view on the steel sector is "moderating post peak pricing." Most positive data points and catalysts have now largely played out, Terry believes.
10/02/18
DBAB
10/02/18
DOWNGRADE
Target $15
DBAB
Hold
Deutsche downgrades Century Aluminum on growing risks, reduced upside
Deutsche Bank analyst Jeremy Kliewer downgraded Century Aluminum to Hold from Buy and lowered his price target for the shares to $15 from $20. Century's margins could remain pressured for longer due to alumina supply disruptions, Kliewer tells investors in a research note. Further, the analyst feels little progress has been made with Santee Cooper, the electrical supplier at the company's Mt. Holly smelter, and that support for import tariffs may decline further following the November mid-term elections. As such, the analyst sees reduced upside potential and growing risk for Century Aluminum shares.
AA Alcoa
$28.50

0.13 (0.46%)

10/18/18
BMOC
10/18/18
NO CHANGE
Target $75
BMOC
Outperform
Alcoa remains 'meaningfully undervalued', says BMO Capital
BMO Capital analyst David Gagliano kept his Outperform rating and $75 price target on Alcoa after its Q3 earnings beat and additional $200M stock buyback, maintaining his view that the shares are "meaningfully undervalued" even under the "risk-off" environment assumptions. The analyst notes that the company's earnings beat was driven by its aluminum segment profitability thanks to the strong contributions from energy and flat-rolled products. Gagliano also contends that there is a disconnect between Alcoa valuation multiples typically seen at the peak of the underlying pricing cycle and its compressed marginal cost prices.
10/18/18
JPMS
10/18/18
NO CHANGE
Target $79
JPMS
Overweight
Alcoa price target raised to $79 from $75 at JPMorgan
JPMorgan analyst Michael Gambardella raised his price target for Alcoa to $79 saying the company last night reported a "solid Q3 beat" and continues to operate well in "turbulent" alumina and aluminum markets. With a $200M buyback program announced, the analyst thinks Alcoa will use its cash going forward for repurchases and to continue to reduce its debt and pension obligations. He believes the stock price is "discounting too steep of a drop in alumina and aluminum prices." Gambardella keeps an Overweight rating on Alcoa.
10/09/18
MSCO
10/09/18
NO CHANGE
Target $57
MSCO
Overweight
Alcoa has 10% potential upside if tariffs replaced, says Morgan Stanley
Morgan Stanley analyst Piyush Sood noted that U.S. steel and aluminum tariffs were left in place under the USMCA agreement, but President Trump said they were only being left in place "until such time as we can do something that would be different, like quotas." Replacing U.S. import tariffs on Canadian aluminum with duty-free quotas could add about $150M to Alcoa's annual EBITDA, calculated Sood, who said that equates to about a 10% potential upside in the stock "that the market has so far ignored." The analyst, who sees Alcoa's Q3 results coming in ahead of expectations, keeps an Overweight rating and $57 price target on the shares.
10/18/18
FBCO
10/18/18
NO CHANGE
Target $58
FBCO
Outperform
Alcoa too cheap to ignore, says Credit Suisse
Credit Suisse analyst Curt Woodworth believes Alcoa is "significantly undervalued" and thinks the strong operating performance in Q3 and continued tightness in alumina set the stage for meaningful earnings revisions across the Street. The analyst reiterates an Outperform rating and $58 price target on the shares.

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