Alcoa's Profitability Program Reaping Results - Analyst Sees Tailwinds From Lagged Alumina Pricing
Portfolio Pulse from Nabaparna Bhattacharya
Alcoa Corporation (NYSE: AA) is seeing positive results from its profitability improvement program, achieving a $350 million run-rate so far. Analysts from B Riley Securities and JP Morgan have noted the company's progress and potential future tailwinds from lagged alumina pricing. The price target for Alcoa has been raised from $39 to $43, although the stock is currently trading lower by 1.98% at $36.08.

July 18, 2024 | 5:58 pm
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Alcoa Corporation is making significant progress in its profitability improvement program, achieving a $350 million run-rate. Analysts have raised the price target from $39 to $43, citing potential future tailwinds from lagged alumina pricing. However, the stock is currently trading lower by 1.98% at $36.08.
The profitability improvement program and raised price target are positive indicators for Alcoa's future performance. However, the current stock price is slightly down, which may be a short-term fluctuation. Overall, the news is likely to have a positive impact on the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100