Fly News Breaks for July 11, 2019
Jul 11, 2019 | 06:58 EDT
Deutsche Bank analyst Chris Terry last night downgraded Alcoa to Hold from Buy and lowered his price target for the shares to $23 from $35. The analyst previously thought Alcoa's legacy liabilities from pension and debt would reduce, the aluminum chain pricing will improve, and that its free cash flow would increase. However, he no longer sees this playing out in the near term.
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