Morgan Stanley Sees Full Valuation, Supportive Factors for Alcoa
In a report published Tuesday, Morgan Stanley analyst Paretosh Misra reiterated an Equal-Weight rating on Alcoa (NYSE: AA).
In the report, Morgan Stanley noted, “We think AA shares are fully valued & overall aluminum fundamentals remain challenging. That said, we see 3 near-term supportive factors: i) 1Q cons. is too low, ii) many investors focused on 2020 auto sheet demand growth story & less concerned with near-term earnings, & iii) risk to bauxite supply.”
Alcoa closed on Monday at $11.94.
Latest Ratings for AA
|Feb 2017||Bank of America||Upgrades||Buy|
|Feb 2017||JP Morgan||Upgrades||Neutral||Overweight|
|Jan 2017||Deutsche Bank||Upgrades||Sell||Hold|
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