Alcoa Analysts Increase Their Forecasts After Upbeat Earnings
Portfolio Pulse from Avi Kapoor
Alcoa Corporation reported better-than-expected earnings for Q3, with adjusted EPS surpassing expectations. Despite missing sales forecasts, Alcoa increased its shipment projections and announced strategic moves, including the sale of its interest in Ma'aden joint ventures. Analysts have adjusted their ratings and price targets for Alcoa, reflecting a positive outlook.
October 17, 2024 | 4:56 pm
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Alcoa's Q3 earnings exceeded expectations with an adjusted EPS of 57 cents, despite missing sales forecasts. The company increased its shipment projections and announced strategic moves, including the sale of its interest in Ma'aden joint ventures. Analysts have upgraded their ratings and price targets, indicating a positive short-term outlook.
Alcoa's better-than-expected EPS and increased shipment forecasts are positive indicators for the company's performance. The strategic sale of its interest in Ma'aden joint ventures adds to its flexibility. Analysts' upgrades and increased price targets suggest a positive short-term impact on Alcoa's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100