J.P. Morgan analyst Michael Gambardella maintained a Buy rating on Alcoa Corp (AA) today and set a price target of $26.00. The company’s shares closed last Monday at $18.73, close to its 52-week low of $16.46.
According to TipRanks.com, Gambardella is a 4-star analyst with an average return of 7.8% and a 52.5% success rate. Gambardella covers the Basic Materials sector, focusing on stocks such as Cleveland-Cliffs Inc, United States Steel, and AK Steel Holding.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Alcoa Corp with a $25.17 average price target, which is a 35.0% upside from current levels. In a report issued on September 26, B.Riley FBR also maintained a Buy rating on the stock with a $27.00 price target.
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Based on Alcoa Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.73 billion and GAAP net loss of $402 million. In comparison, last year the company earned revenue of $3.42 billion and had a GAAP net loss of $41 million.
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Alcoa Corp. engages in the production of bauxite, alumina, and aluminum products. It operates through the following segments: Bauxite, Alumina, and Aluminum. The Bauxite segment represents the company’ global bauxite mining operations. The Alumina segment includes the company’s worldwide refining system, which processes bauxite into alumina.
