Market Overview

Sterne Agee Sees Fundamental Story Improving For Alcoa

Share:
Related AA
SEC To Wall Street: No More Non-GAAP Accounting... For Real This Time
After-Hours Recap: Big Banks, Liquidity Services's DoD Deal, Haemonetics' CFO & More
Alcoa: Set To Skyrocket (Seeking Alpha)

In a report published Wednesday, Sterne Agee analyst Josh W. Sullivan reiterated a Buy rating and $18.00 price target on Alcoa (NYSE: AA).

In the report, Sterne Agee noted, “Alcoa reported strong adjusted EPS results of $0.18 [excludes $0.06 of announced restructuring actions in commodity business] which beat street estimates of $0.12. In the quarter, Alcoa executed on curtailing its commodity cost structure and GRP continues to pick up automotive demand. However, we continue to believe aerospace is the next leg of the story as EP&S demonstrated with margins up 90 bsp sequentially. Net, net fundamentally Alcoa continues to improve and we would continue to be buyers.”

Alcoa closed on Tuesday at $14.79.

Latest Ratings for AA

DateFirmActionFromTo
Apr 2016RosenblattInitiates Coverage onBuy
Apr 2016MacquarieMaintainsOutperform
Mar 2016Credit SuisseInitiates Coverage onOutperform

View More Analyst Ratings for AA
View the Latest Analyst Ratings

Posted-In: Josh W. Sullivan Sterne AgeeAnalyst Color Reiteration Analyst Ratings

 

Related Articles (AA)

View Comments and Join the Discussion!