Market Overview

Sterne Agee Sees Fundamental Story Improving For Alcoa

Share:
Related AA
Arconic Reportedly Supplied Flammable Panels to Grenfell Tower, Shares Slide
Catalysts On The Horizon For Metals & Mining Group; Deutsche Bank Upgrades, US Steel, AK Steel To Buy

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
May 2017Clarksons PlatouInitiates Coverage OnBuy
Mar 2017BMO CapitalUpgradesMarket PerformOutperform
Mar 2017BerenbergUpgradesHoldBuy

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!