Alcoa (AA) Stock: $55 Target And Market Perform Rating

By Amit Chowdhry ● Aug 3, 2022
  • 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.