Jefferies Starts Alcoa (AA) at Buy
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Price: $35.47 -0.23%
Rating Summary:
15 Buy, 14 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
Rating Summary:
15 Buy, 14 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
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Jefferies initiates coverage on Alcoa (NYSE: AA) with a Buy and $16 price target.
The firm said after years of underperformance, Alcoa's multiple has contracted to a much more reasonable level and earnings expectations now seem much more reasonable. In addition, after many years of aggressive capital spending, Alcoa's assets are now much more competitive. With free cash flow expected to improve substantially, the board could approve a much more attractive dividend.
For more ratings news on Alcoa click here and for the rating history of Alcoa click here.
Shares of Alcoa closed at $12.04 yesterday.
The firm said after years of underperformance, Alcoa's multiple has contracted to a much more reasonable level and earnings expectations now seem much more reasonable. In addition, after many years of aggressive capital spending, Alcoa's assets are now much more competitive. With free cash flow expected to improve substantially, the board could approve a much more attractive dividend.
For more ratings news on Alcoa click here and for the rating history of Alcoa click here.
Shares of Alcoa closed at $12.04 yesterday.
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