Morgan Stanley Sees Good Market Position For Alcoa
In a report published Monday, Morgan Stanley analyst Paretosh Misra reiterated an Equal-Weight rating on Alcoa (NYSE: AA).
In the report, Morgan Stanley noted, “Maintaining 2Qe EPS at $0.13. We think 3Q EPS could be modestly above 2Q, as stronger pricing in primary metals, along with contributions from Ma'aden & Davenport are partially offset by weaker alumina pricing & seasonal weakness. Raising base case to $13 on higher aluminum premiums.”
Alcoa closed on Friday at $14.62.
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