Alcoa shares jump on stronger-than-expected profit
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Alcoa (AA) PT Raised to $39 at JPMorgan
October 17, 2024 6:04 AM EDTJPMorgan analyst Bill Peterson raised the price target on Alcoa (NYSE: AA) to $39.00 (from $36.00) while maintaining a Neutral rating.
The analyst comments "Alcoa reported 3Q adjusted EBITDA of $455M (+40% Q/Q), beating consensus $390M. The strong improvement was driven by higher alumina pricing, raw materials and energy ($113M/$15M/$16M tailwind), partly offset by lower aluminum pricing/currency... More
