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.
美國鋁業公司（NYSE：AA）股票週四下跌，這是繼週三增長後的回落。
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.
公司昨天報告第三季度銷售額爲29.04億美元，低於29.67億美元的共識以及每股調整後的收益爲0.57美元，超過0.28美元的共識。
JPMorgan analyst Bill Peterson raised the price target to $39 from $36 while maintaining a Neutral rating.
摩根大通分析師比爾·彼得森將價格目標從36美元上調至39美元，同時維持中立評級。
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).
分析師寫道，隨着易取之果已被實現，未來的進展取決於Kwinana的減產節約、Warrick/Alumar的增產以及通脹減輕法案（IRA）的潛在效益。
The analyst anticipated additional support from lagged alumina pricing for the fourth quarter before it normalizes later next year.
分析師預計第四季度鋁土礦價格滯後支持將繼續，直到明年稍後趨於正常。
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.
分析師表示，他也急切期待有關擬議中的聖西普里安方案的更新，這一方案似乎取決於政府和工會在資金在未來幾個月耗盡前的合作。
Also Read: Alcoa Analysts Increase Their Forecasts After Upbeat Earnings
還閱讀：美國鋁業分析師在盈利樂觀之後增加了他們的預測
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.
分析師補充說，美國鋁業似乎正在採取一種有紀律的方法來增強效率、降低成本和簡化其產品組合，預計這將加強其資本結構並獨立於商品價格產生進一步的EBITDA增長。
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.
分析師對鋁的短期前景持謹慎態度，主要原因是中國的因子存在矛盾信號，美國選舉可能帶來的影響以及聯儲局減息週期的開始。
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.
分析師認爲市場需要更多來自中國的支撐性財政刺激的證據，改善宏觀經濟活動以及顯著的庫存減少，才能觸發鋁價格下一個可持續增長，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.
總的來說，分析師表示執行力仍然是一個「展示給我看」的故事，下一個催化劑可能是在2024年底之前對虧損的聖西普里安綜合體做出決定。
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).
投資者可以通過麥格理ETF信託麥格理能源轉型ETF (紐交所：PWER) 和SPDR標準普爾金屬和礦業ETF (紐交所：XME) 獲得該股票的曝光。
AA Price Action: Alcoa shares are down 3.73% at $40.50 at publication Thursday.
美國鋁業公司股價週四下跌3.73%，報40.50美元。
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Photo: shutterstock
