Market Overview

Standpoint Upgrades Alcoa; Stock Rising


Ronnie Moas at Standpoint Research upgraded Alcoa Inc (NYSE: AA) from Hold to Buy Friday and set an $18 price target.

Moas’ price target was for a 2016-2017 time frame with the expectation of a 30 percent upside versus a 15 percent downside risk.

Moas noted that Century Aluminum Co (NASDAQ: CENX) reported Q1 results on Thursday and felt it was “a good time to double [his] bet on this industry.

“I tried to pick a bottom here on March 18 with CENX,” Moas said, as Alcoa looked “to close above $14 today for the first time in eight weeks.”

Other analysts had commented on Alcoa during the month of April.

Following Alcoa’s Q1 results, analysts David Gagliano and Matt Cartoceti at BMO Capital Markets expected upstream pricing pressure, downstream weakness and felt Alcoa’s stock was fully valued.

Stifel analysts Paul Massoud and Anthony Shen had adjusted Q2 Alcoa estimates and trimmed their price target on the stock from $20 to $19 in early April.

On April 22nd, Cleveland Research analysts Christopher D. Olin and Casey McDonald initiated coverage on Alcoa with a Neutral rating and had a “favorable long-term view of the company, mitigated by potential FY15 aluminum-related headwinds.”

Year-to-date, Alcoa had fallen approximately 10 percent and recently traded at $14.10, up 5.1 percent.

Century Aluminum recently traded at $14.85, up 15.21 percent.

Latest Ratings for AA

Sep 2019UpgradesNeutralOutperform
Jul 2019DowngradesBuyHold
Jul 2019DowngradesBuyHold

View More Analyst Ratings for AA
View the Latest Analyst Ratings

Posted-In: Anthony Shen BMO Capital Markets Casey McDonald Cleveland Research analysts Christopher D. OlinAnalyst Color Upgrades Price Target Analyst Ratings


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