Information Provided By:
Fly News Breaks for February 3, 2020
Feb 3, 2020 | 08:37 EDT
JPMorgan analyst Michael Gambardella noted that Alcoa's (AA) stock price has "well underperformed" that of Alumina Limited (AWCMY) since the former's Q4 earnings report, but he views the weakness as an "attractive" buying opportunity given his view that Alcoa's implied guidance for a large sequential drop in Q1 EBITDA is due to headwinds that should reverse as the year progresses. Additionally, he thinks Alcoa's non-core asset sale program has the potential to drive over $2 per share in value, which he notes equates to 15% of the current stock price. Gambardella keeps an Overweight rating on Alcoa shares with a $23 price target, down slightly from his previous $24 target.
News For AA;AWCMY From the Last 2 Days
There are no results for your query AA;AWCMY