Alcoa's (AA) Q1 adjusted earnings probably will top Wall Street estimates amid a "constructive outlook" for aluminum, UBS AG London said Thursday in a report.
UBS forecasts Q1 adjusted earnings of $1.74 a share versus the consensus of $1.44. Earnings before interest, taxes, depreciation and amortization of $805 million may exceed estimates by 8%, the report said.
"We do not expect material changes to key 2025 guidance" and anticipate that earnings revisions may be influenced by changes to aluminum and alumina prices and premiums, UBS said.
UBS reiterated its buy rating on the stock with a price target of $47. Alcoa results are expected April 16.
Alcoa shares fell 3.3% in recent Thursday trading.
Price: 32.25, Change: -1.09, Percent Change: -3.27
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