Fly News Breaks for March 10, 2015
RTI, AA
Mar 10, 2015 | 07:26 EDT
RBC Capital believes that Alcoa's (AA) acquisition of RTI International Metals (RTI) is neutral. The firm says that the deal diversifies Alcoa's business and increases its exposure to aerospace, but notes that it is not expected to become accretive until year three and makes a relatively small initial contribution to Aloca's earnings and cash flow. The firm keeps a Sector Perform rating on Aloca.
News For AA;RTI From the Last 2 Days
AA
Mar 18, 2024 | 09:01 EDT
BofA raised the firm's price target on Alcoa to $32 from $31 and keeps a Neutral rating on the shares. The firm updated its Alcoa model with commodity pricing locked in and now sees Q1 adjusted EBITDA of $121M, above its prior estimate of $97M due mainly to higher aluminum pricing. BofA's EBITDA view is now in line with Bloomberg consensus at $119M, but below Visible Alpha at $140M, the analyst noted.