Information Provided By: 
Fly News Breaks for October 21, 2019
AA
Oct 21, 2019 | 08:40 EDT
Gabelli analyst Justin Bergner downgraded Alcoa to Hold from Buy despite the shares trading at a 35% discount to his 2020 private market value estimate of $32. Acloa's 12% two day post-earnings rally reflected better than expected proceeds from non-core asset sales and a view that estimates have bottomed, Bergner tells investors in a research note. The analyst, however, now sees aluminum as "challenged" amid increased Chinese scrap and against 1%-2% "capacity creep."
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.
