AA - This Alcoa Analyst Lowers Forecasts After Q4 Miss Plus 'Overall A Softer-Than-Expected 2024 Start' | Benzinga
Shares of Alcoa Corp (NYSE: AA) tanked in early trading on Thursday, after the company reported mixed results for its fourth quarter.
The company’s adjusted EBITDA miss was mainly due to "other corporate items,” while its total segment EBITDA of $172 million came in "slightly above our estimate,” according to BMO Capital Markets.
The Alcoa Analyst: Katja Jancic maintained a Market Perform rating for Alcoa while reducing the price target from $30 to $29.
The Alcoa Thesis: Although the company announced a disappointing outlook for the first quarter, it provided "a list of near-term factors/actions” ...