Alcoa (AA) : 9 Wall Street analysts covering Alcoa (AA) believe that the average level the stock could reach for the short term is $11.56. The maximum price target given is $14 and the minimum target for short term is around $8, hence the standard deviation is calculated at $1.81.
Alcoa (AA) : 10 analysts are covering Alcoa (AA) and their average rating on the stock is 2.05, which is read as a Buy. 5 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. Alcoa (AA) also receives 1 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. However, 1 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. A total of 3 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Also, Equity Analysts at the Morgan Stanley maintains the rating on Alcoa (NYSE:AA). The brokerage firm has issued a Overweight rating on the shares. The Analysts at the ratings agency raises the price target from $11 per share to $12 per share. The rating by the firm was issued on June 30, 2016.
Alcoa (NYSE:AA): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $10.09 and $10.05 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $10.19. The buying momentum continued till the end and the stock did not give up its gains. It closed at $10.13, notching a gain of 0.50% for the day. The total traded volume was 13,441,759 . The stock had closed at $10.08 on the previous day.
Alcoa Inc. (Alcoa) is engaged in lightweight metals engineering and manufacturing. The Company operates in four segments: Alumina, Primary Metals, Global Rolled Products, and Engineered Products and Solutions. Its products, which include aluminum, titanium and nickel, are used in aircraft, automobiles, commercial transportation, packaging, building and construction, oil and gas, defense, consumer electronics, and industrial applications across the world. It also produces and manages primary aluminum, fabricated aluminum and alumina combined, through its active participation in the aspects of the industry, including technology, mining, refining, smelting, fabricating, and recycling. The Company has investments and operating activities in Australia, Brazil, China, Guinea, Iceland, Russia and Saudi Arabia, among others. It produces three dimensional (3D-printed) titanium, specialty metals and plastic parts for aerospace, medical and energy applications.