Alcoa -2% as Credit Suisse cuts to Neutral

Apr. 02, 2019 2:24 PM ETAlcoa Corporation (AA)AABy: Carl Surran, SA News Editor
  • Alcoa (AA -2.4%) slides after Credit Suisse downgrades shares to Neutral from Outperform with a $31 price target, cut from $40, shifting its valuation framework to focus on "owned" EBITDA and free cash flow on a blended 2019-20 basis to account for the shifting fortunes between refining and smelting.
  • Credit Suisse analyst Curt Woodworth also says China is set to accelerate supply growth over the next several years as capacity swaps convert to new smelters and provincial focus pivots to growth model.
To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.