Alcoa upgraded at Deutsche Bank ahead of aluminum EBITDA inflection - Alcoa Corporation (NYSE:AA)
Alcoa upgraded at Deutsche Bank ahead of aluminum EBITDA inflection. Jan. 17, 2020 3:34 PMAlcoa Corporation (AA)By: Carl Surran, SA News Editor. Alcoa (AA-0.7%) adds to yesterday's 11% loss that followed a Q4 loss and a global aluminum surplus outlook, despite winning an analyst upgrade to Buy from Hold with a $20.50 price target at Deutsche Bank. Alcoa has struggled to generate cash flow, but the stock "has become interesting on a number of fronts," DB's Chris Terry says, forecasting the company's aluminum segment will inflect from $25M EBITDA in 2019 to more than $500M in 2020. While the company's other segments may well shrink, Alcoa will own a higher percentage of its overall EBITDA as opposed to EBITDA generated from the Alumina and World Chemicals joint venture, Terry adds.