- The shares of Alcoa (AA) recently received a $55 price target from BMO Capital. These are the details.
The shares of Alcoa (AA) recently received a $55 price target from BMO Capital. And BMO Capital analyst David Gagliano is maintaining a “Market Perform” rating on the shares.
Gagliano had adjusted the rating while noting that Alcoa’s second quarter results and additional $500 million buyback were positive. But Gagliano is still cutting the third quarter EBITDA outlook significantly to $340 million from $586 on marking-to-market weaker aluminum/alumina lagged prices.
Plus Gagliano pointed out that Alcoa shares are nearly fully valued.