Alcoa Makes 'Solid Progress' Addressing Operational Concerns, Analyst Is No Longer Bearish
Alcoa Makes 'Solid Progress' Addressing Operational Concerns, Analyst Is No Longer Bearish
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 efforts "as part of an action plan that aims to generate a ~$645m annualized EBITDA uplift when completed in 2025," De Alba said in the upgrade note.
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"The current aluminum price environment has made the self-help measures easier to execute, in our view," the analyst wrote. He added that the Western Australia (WA) authorities had provided some clarity around the bauxite operations, "removing the uncertainty around these mines."
"Further, the company may benefit from more Inflation Reduction Act tax credits for aluminum if the credits are expanded to include raw materials," De Alba further stated.
AA Price Action: Shares of Alcoa had risen by 0.25% to $35.61 at the time of publication on Thursday.
Photo: Shutterstock
Alcoa Corp (NYSE:AA) reported last week its first-quarter results, with a slight revenue beat.
美鋁公司（紐約證券交易所代碼：AA）上週公佈了第一季度業績，收入略有增長。
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.
摩根士丹利表示，該公司在成本節約措施方面正在取得持續進展，同時準備獲得額外的IRA（通貨膨脹減少法案）福利。
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.
美鋁分析師：卡洛斯·德阿爾巴將美鋁的評級從減持上調至同等，同時將目標股價從28.50美元上調至36.50美元。
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 efforts "as part of an action plan that aims to generate a ~$645m annualized EBITDA uplift when completed in 2025," De Alba said in the upgrade note.
美鋁論點：德阿爾巴在升級說明中說，截至2023年的運營擔憂已成爲該公司的主要運營問題，該公司在第一季度在削減成本方面取得了 “穩步進展”，“這是一項行動計劃的一部分，該行動計劃旨在在2025年完成後實現約6.45億美元的年化息稅折舊攤銷前利潤增長”。
Check out other analyst stock ratings.
查看其他分析師股票評級。
"The current aluminum price environment has made the self-help measures easier to execute, in our view," the analyst wrote. He added that the Western Australia (WA) authorities had provided some clarity around the bauxite operations, "removing the uncertainty around these mines."
這位分析師寫道：“在我們看來，當前的鋁價環境使自助措施更容易執行。”他補充說，西澳大利亞州（WA）當局已經對鋁土礦開採提供了一些澄清，“消除了這些礦山的不確定性”。
"Further, the company may benefit from more Inflation Reduction Act tax credits for aluminum if the credits are expanded to include raw materials," De Alba further stated.
德阿爾巴進一步表示：“此外，如果將抵免範圍擴大到包括原材料，該公司可能會受益於更多的《通貨膨脹減免法》對鋁的稅收抵免。”
AA Price Action: Shares of Alcoa had risen by 0.25% to $35.61 at the time of publication on Thursday.
AA價格走勢：在週四發佈時，美鋁的股價上漲了0.25％，至35.61美元。
Photo: Shutterstock
照片：Shutterstock
譯文內容由第三人軟體翻譯。
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