Alcoa shares are trading lower after the company reported worse-than-expected Q3 EPS results and issued Q4 guidance. Additionally, BMO Capital maintained a Market Perform rating on the stock but lowered its price target from $30 to $28.
Portfolio Pulse from Benzinga Newsdesk
Alcoa's Q3 earnings per share (EPS) results were below expectations, and the company has issued Q4 guidance. BMO Capital has maintained a Market Perform rating on the stock but reduced its price target from $30 to $28.
October 19, 2023 | 6:36 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Alcoa's lower-than-expected Q3 EPS and the reduction of its price target by BMO Capital may negatively impact the company's stock price.
Alcoa's Q3 EPS results were below market expectations, which is typically a negative signal for investors. Additionally, BMO Capital's decision to lower its price target for Alcoa's stock from $30 to $28 suggests a less optimistic outlook for the company's future performance. Both of these factors are likely to exert downward pressure on Alcoa's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100