Alcoa Analyst Boosts Price Target: Growth Strategy Hinges On Kwinana Savings, San Ciprian Resolution
Alcoa Analyst Boosts Price Target: Growth Strategy Hinges On Kwinana Savings, San Ciprian Resolution
The analyst wrote that with low-hanging fruit already secured, future progress depends on savings from Kwinana's curtailment, the ramp-up at Warrick/Alumar and potential benefits from the Inflation Reduction Act (IRA).Alcoa Corporation (NYSE:AA) shares are trading lower on Thursday after rebounding from Wednesday's increase.
美国铝业公司（NYSE：AA）股票周四下跌，这是继周三增长后的回落。
Yesterday, the company reported third-quarter sales of $2.904 billion, missing the consensus of $2.967 billion and adjusted EPS of $0.57, exceeding the consensus of $0.28.
公司昨天报告第三季度销售额为29.04亿美元，低于29.67亿美元的共识以及每股调整后的收益为0.57美元，超过0.28美元的共识。
JPMorgan analyst Bill Peterson raised the price target to $39 from $36 while maintaining a Neutral rating.
摩根大通分析师比尔·彼得森将价格目标从36美元上调至39美元，同时维持中立评级。
The analyst wrote that with low-hanging fruit already secured, future progress depends on savings from Kwinana's curtailment, the ramp-up at Warrick/Alumar and potential benefits from the Inflation Reduction Act (IRA).
分析师写道，随着易取之果已被实现，未来的进展取决于Kwinana的减产节约、Warrick/Alumar的增产以及通胀减轻法案（IRA）的潜在效益。
The analyst anticipated additional support from lagged alumina pricing for the fourth quarter before it normalizes later next year.
分析师预计第四季度铝土矿价格滞后支持将继续，直到明年稍后趋于正常。
The analyst said he is also eager for updates on the proposed San Ciprian resolution, which seemed to hinge on government and union cooperation before funding runs out in the coming months.
分析师表示，他也急切期待有关拟议中的圣西普里安方案的更新，这一方案似乎取决于政府和工会在资金在未来几个月耗尽前的合作。
Also Read: Alcoa Analysts Increase Their Forecasts After Upbeat Earnings
还阅读：美国铝业分析师在盈利乐观之后增加了他们的预测
Alcoa appeared to be adopting a disciplined approach to enhance efficiencies, reduce costs and streamline its portfolio, which was expected to strengthen its capital structure and generate further EBITDA growth independent of commodity pricing, added the analyst.
分析师补充说，美国铝业似乎正在采取一种有纪律的方法来增强效率、降低成本和简化其产品组合，预计这将加强其资本结构并独立于商品价格产生进一步的EBITDA增长。
The analyst did reflect a cautious near-term outlook for aluminum due to conflicting indicators from China, the potential impact of the U.S. elections and the beginning of the Federal Reserve's rate-cutting cycle.
分析师对铝的短期前景持谨慎态度，主要原因是中国的因子存在矛盾信号，美国选举可能带来的影响以及美联储降息周期的开始。
The analyst believed the market needs more evidence of supportive fiscal stimulus from China, improved macroeconomic activity and significant inventory draws to trigger the next sustainable increase in aluminum pricing, likely extending into 2025.
分析师认为市场需要更多来自中国的支撑性财政刺激的证据，改善宏观经济活动以及显著的库存减少，才能触发铝价格下一个可持续增长，可能延伸至2025年。
Overall, the analyst said execution remained a "show me" story, with the next catalyst likely being a decision regarding the loss-making San Ciprian complex before the end of 2024.
总的来说，分析师表示执行力仍然是一个“展示给我看”的故事，下一个催化剂可能是在2024年底之前对亏损的圣西普里安综合体做出决定。
Investors can gain exposure to the stock via Macquarie ETF Trust Macquarie Energy Transition ETF (NYSE:PWER) and SPDR S&P Metals & Mining ETF (NYSE:XME).
投资者可以通过麦格理ETF信托麦格理能源转型ETF (纽交所：PWER) 和SPDR标准普尔金属和矿业ETF (纽交所：XME) 获得该股票的曝光。
AA Price Action: Alcoa shares are down 3.73% at $40.50 at publication Thursday.
美国铝业公司股价周四下跌3.73%，报40.50美元。
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Photo: shutterstock
