- More analysts weigh in with praise for Alcoa's (AA +5.4%) Q2 earnings beat.
- Sterne Agee maintains its Buy rating and $18 price target, as Alcoa is executing on the fundamental themes, and the pace of activity across the board for aerospace, automotive and cost containment is picking up.
- Argus raises its price target to $18 from $15, seeing the focus on higher margin products as an appropriate strategy for Alcoa, which continues to face risks from excess global smelting capacity; the firm also believes AA could eventually spin off its commodity alumina and aluminum businesses (Briefing.com).
- RBC is more cautious on the sustainability of the strong power sales in the quarter, as it maintains its Sector Perform rating and $16 price target.
- Earlier: Alcoa up after strong Q2 results, optimistic outlook