Alcoa Makes ‘Solid Progress’ Addressing Operational Concerns, Analyst Is No Longer Bearish
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Alcoa Corp (NYSE:AA) reported last week its first-quarter results, with a slight revenue beat.
The company is making continuous progress in its cost saving measures, while it is poised for additional IRA (Inflation Reduction Act) benefits, according to Morgan Stanley.
The Alcoa Analyst: Carlos De Alba upgraded the rating for Alcoa from Underweight to Equal-Weight, while raising the price target from $28.50 to $36.50.
The Alcoa Thesis: The operational concerns witnessed through 2023 are large behind the company and it has made “solid progress” in the first quarter on cost reduction …
Full story available on Benzinga.com
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