Alcoa is a highly liquid name that draws a lot of activity from scalpers, traders, and investors when research is posted. This upgrade relates to China reopening and the potential for Alcoa to see benefits as the"default North America exposure to aluminum" per Citi analysts.
The global investment bank also wrote,"Based on our conversations, it seems Alcoa is relatively out of favor with investors, with the market more focused on copper and coal. The current valuation is 8-9x spot EBITDA and at 4.5x on Citi’s estimate 2024 . The balance sheet is strong. FCF is limited at spot, although working capital should be a tailwind.
All insiders are selling!! They always know before retail!! Get out now!
Well obviously this company has never made money. Don't invest long term. This is not something to 'invest' in.