Alcoa (AA) PT Lowered to $52 at BofA Securities on lower EBITDA
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Price: $48.68 +2.53%
Rating Summary:
21 Buy, 12 Hold, 1 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 0 | Down: 0 | New: 2
Rating Summary:
21 Buy, 12 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 2
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BofA Securities analyst Lawson Winder lowered the price target on Alcoa (NYSE: AA) to $52.00 (from $53.00) while maintaining a Buy rating after trimming EBITDA estimates below the Street.
The analyst commented, "With commodity pricing (15/30-day lag on aluminum/alumina) locked in, we update our Alcoa (AA) model and now see Q2’23 adjusted EBITDA of $133 million (m) (vs. $193m prior). This is below Bloomberg/Visible Alpha consensus of $177m/$189m."
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