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AA

Alcoa

$27.69

-0.07 (-0.25%)

07:37
04/18/19
04/18
07:37
04/18/19
07:37

Alcoa estimates and price target lowered at JPMorgan

JPMorgan analyst Michael Gambardella reduced his estimates for Alcoa to reflect lower earnings estimates for the company's Aluminum segment. However, Gambardella expects Alcoa's earnings to "take a step up" in the second half of 2019 and believes its efforts to improve operational performance and optimize its portfolio should continue to drive value this year and next. He lowered his price target for the shares to $52 from $60 but keeps an Overweight rating on the name. Gambardella does not see much further downside in alumina or aluminum prices, which he says creates an attractive risk/reward for Alcoa shares.

  • 08

    May

AA Alcoa
$27.69

-0.07 (-0.25%)

04/02/19
04/02/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. AstraZeneca (AZN) downgraded to Sell from Neutral at UBS with analyst Michael Leuchten saying last week's oncology deal with Japan's Daiichi Sankyo suggests limited cash generation in the near term and is a sign of slow margin recovery. 2. Alcoa (AA) downgraded to Neutral from Outperform at Credit Suisse with analyst Curt Woodworth saying China is set to accelerate supply growth over the next several years as capacity swaps convert to new smelters and provincial focus pivots to growth model. 3. Pacific Biosciences (PACB) downgraded to Equal Weight from Overweight at Stephens with analyst Drew Jones saying the shares are within 10% of the looming purchase price by Illumina (ILMN). 4. Wingstop (WING) downgraded to Neutral from Buy at Guggenheim with analyst Matthew DiFrisco saying he sees increased risk to moderating new store growth and the current valuation multiple. 5. DowDuPont (DWDP) downgraded to Neutral from Buy at Citi and BofA/Merrill. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/03/19
BOFA
04/03/19
DOWNGRADE
BOFA
Neutral
Alcoa downgraded to Neutral from Buy at BofA/Merrill
04/03/19
04/03/19
DOWNGRADE
Target $31

Neutral
Alcoa downgraded to Neutral on lower prices at BofA/Merrill
As previously reported, BofA/Merrill downgraded Alcoa to Neutral from Buy and slashed its price target to $31 from $45. The global commodities team cut its aluminum price forecast by 5.4% for 2019 and 6.2% for 2020, for an average of $1,915/ton in 2019 and $1,900/ton in 2020, saying Chinese exports will cap potential price gains. Based on new forecasts, analyst Timna Tanners now sees limited free cash flow payments by Alcoa to upstream AWAC joint-venture partner Alumina Ltd, potential excess alumina/bauxite supply, and potential price risks from the Alunorte refinery restarting, the world's largest refinery.
04/03/19
04/03/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Caterpillar (CAT) downgraded to Hold from Buy at Deutsche Bank with analyst Chad Dillard saying the biggest risk to the bull case for Caterpillar is if its backlog growth turns negative, "and it is becoming increasingly clear that it will within this next quarter." 2. Dunkin' Brands (DNKN) downgraded to Market Perform from Outperform at BMO Capital with analyst Andrew Strelzik saying that while he remains positive on the company's underlying fundamentals over the long term, he sees risk/reward at current levels as "less persuasive." 3. Tallgrass Energy (TGE) downgraded to Neutral from Buy at Goldman Sachs with analyst Michael Lapides citing the stock's recent outperformance and also warns that its Rockies Express Pipeline natural gas pipeline and Pony Express crude oil pipeline contract roll-offs pose "overhangs," even though the "volume growth out of Bakken, Niobrara, and Powder River Basin could offset this over time." 4. Walgreens Boots Alliance (WBA) downgraded to Hold from Buy at Loop Capital with analyst Andrew Wolf citing the company's disappointing Q2 earnings and FY19 guidance announced yesterday "driven by significantly lower-than-forecasted gross margin resulting from increased pharmacy reimbursement rate pressure in the U.S." 5. Alcoa (AA) downgraded to Neutral from Buy at BofA/Merrill with analyst Timna Tanners saying she now sees limited free cash flow payments by Alcoa to upstream AWAC joint-venture partner Alumina Ltd, potential excess alumina/bauxite supply, and potential price risks from the Alunorte refinery restarting, the world's largest refinery. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

BLUE

Bluebird Bio

$84.00

-2.97 (-3.41%)

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AQST

Aquestive Therapeutics

$6.73

-0.97 (-12.60%)

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SCHW

Charles Schwab

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1.48 (2.98%)

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BY

Byline Bancorp

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0.54 (2.93%)

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NXGN

NextGen Healthcare

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AMOT

Allied Motion

$46.79

0.81 (1.76%)

18:57
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Allied Motion CEO sells 10K shares of common stock »

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LILA

Liberty Latin America

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0.32 (1.86%)

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Discovery

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Liberty Latin America says Dr. John Malone retires from board »

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LILA

Liberty Latin America

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DISCA

Discovery

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0.28 (0.87%)

LGF.A

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LGF.B

Lionsgate

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HOCPY

Hoya Corp.

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Hoya Corp.

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Toshiba, also use TOSYY

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  • 16

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ADBE

Adobe

$305.76

2.01 (0.66%)

, SRPT

Sarepta

$100.39

-1.15 (-1.13%)

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ADBE

Adobe

$305.76

2.01 (0.66%)

SRPT

Sarepta

$100.39

-1.15 (-1.13%)

DDOG

Datadog

$35.75

0.23 (0.65%)

RIG

Transocean

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0.28 (4.95%)

TPR

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GTIM

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ORCL

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AVGO

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7.53 (2.35%)

COST

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2.28 (0.77%)

CNC

Centene

$58.52

-0.13 (-0.22%)

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    Mar

SRPT

Sarepta

$100.39

-1.15 (-1.13%)

18:40
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Breaking Hot Stocks news story on Sarepta »

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PHR

Phreesia

$28.67

0.1 (0.35%)

18:38
12/12/19
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Syndicate
Phreesia 6.75M share Secondary priced at $26.00 »

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  • 13

    Dec

SRPT

Sarepta

$100.39

-1.15 (-1.13%)

18:31
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Breaking Hot Stocks news story on Sarepta »

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ADBE

Adobe

$305.76

2.01 (0.66%)

18:25
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Adobe CEO: We are not overly concerned with the trade war with China »

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SRPT

Sarepta

$100.39

-1.15 (-1.13%)

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Sarepta announces FDA approval of VYONDYS 53 injection to treat DMD »

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AMZN

Amazon.com

$1,760.44

11.33 (0.65%)

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OHAI

OHA Investment

$1.28

(0.00%)

, PTMN

Portman Ridge Finance

$2.04

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18:10
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OHA Investment obtains stockholder approval of Portman Ridge deal »

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OHAI

OHA Investment

$1.28

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PTMN

Portman Ridge Finance

$2.04

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ONCT

Oncternal Therapeutics

$4.62

0.05 (1.09%)

18:05
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Oncternal presents interim data from Phase 1b clinical study of cirmtuzumab »

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HZN

Horizon Global

$3.49

0.14 (4.18%)

18:03
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Horizon Global CFO Jamie Pierson steps down »

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ORCL

Oracle

$56.47

0.16 (0.28%)

18:03
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Oracle CEO Catz says expects momentum in 2H20 to carry into FY21 »

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  • 12

    Dec

SRPT

Sarepta

$100.39

-1.15 (-1.13%)

18:00
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Breaking Hot Stocks news story on Sarepta »

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ORCL

Oracle

$56.47

0.16 (0.28%)

17:52
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Oracle's Ellison says 'we have no plans for having a second CEO' »

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  • 12

    Dec

NLNK

NewLink Genetics

$1.61

-0.015 (-0.93%)

, EVRC

Evercel, Inc

$0.00

(0.00%)

17:41
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NewLink Genetics advances over 11% after Evercel discloses rejected offer »

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NLNK

NewLink Genetics

$1.61

-0.015 (-0.93%)

EVRC

Evercel, Inc

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EVRC

Evercel, Inc

$0.00

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, NLNK

NewLink Genetics

$1.61

-0.015 (-0.93%)

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Evercel announces rejected offer to acquire NewLink Genetics »

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NewLink Genetics

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BXRX

Baudax Bio

$6.30

0.225 (3.70%)

17:34
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Corsair Capital reports 8.77% passive stake in Baudax Bio »

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  • 16

    Dec

GVA

Granite Construction

$27.55

1.255 (4.77%)

17:33
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Granite Construction subsidiary awarded $16M contract to rehabilitate I-94 »

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