Alcoa (AA) PT Raised to $45 at BMO Capital

BMO Capital analyst Katja Jancic raised the price target on Alcoa (NYSE: AA) to $45.00 (from $42.00) while maintaining a Market Perform rating.

The analyst commented, "Following better-than-expected 3Q'24 results, we are increasing near-term estimates on marking-to-market alumina price. Looking ahead, we expect result in 4Q'24 to increase further, with Alcoa well positioned to benefit from the currently strong alumina pricing environment (post Alumina Limited acquisition third-party alumina sales potential increased to 6mtpy, from 2mtpy). Meanwhile, Alcoa continues to make progress on multiple key strategic/operational actions (i.e., profitability improvement programs, WA bauxite mining permits, Ma'aden JV sale, San Ciprián resolution). Increasing target to $45."

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Phillips 66, Marathon Merger Talks Collapsed - Semafor
• Freedom Broker Upgrades Lifeway Foods (LWAY) to Buy