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Fly News Breaks for April 2, 2019
AA
Apr 2, 2019 | 08:13 EDT
As previously reported, Credit Suisse analyst Curt Woodworth downgraded Alcoa to Neutral from Outperform as he shifts his valuation framework to focus on "owned" EBITDA and free cash flow on a blended 2019/20 basis to account for the shifting fortunes between refining and smelting. 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, he contends. The analyst also lowered his price target on the shares to $31 from $40.
News For AA From the Last 2 Days
AA
Apr 22, 2024 | 09:47 EDT
AA
Apr 22, 2024 | 08:57 EDT
Check out this morning's top movers from around Wall Street, compiled by The Fly. HIGHER - Vista... To see the rest of the story go to thefly.com. See Story Here
AA
Apr 22, 2024 | 04:37 EDT
Morgan Stanley upgraded Alcoa to Equal Weight from Underweight with a price target of $36.50, up from $28.50. The analyst now sees a more balanced risk/reward for Alcoa shares given the company's continued progress on cost saving measures, reduced uncertainty on the path to resolving bauxite mining issues in Western Australia, and potentially more Inflation Reduction Act benefits to come. The operational concerns that persisted throughout 2023 have largely been de-risked, the analyst tells investors in a research note.
