Aluminum Stock Pops on Analyst Upgrade

The stock is up 10% since the start of the year

Deputy Editor
Feb 22, 2023 at 10:55 AM
facebook X logo linkedin


Alcoa Corp (NYSE:AA) stock is up 4.6% at $50.16 at last glance, after Citigroup upgraded the shares to "buy" from "neutral," with a price-target hike to $65 from $55. The firm noted the aluminum name's relatively low debt and strong liquidity, as well as a potential boost amid China's reopening. 

On the charts, AA is making its way higher after this month's slide. Year-to-date, the equity is up 10%. Long-term pressure lingers above at the $55 level, however, as well as the 20-day moving average.

Of the 14 analysts in coverage, six now carry a "buy" or better rating on AA, while eight say "hold." Plus, the 12-month consensus price target of $55.64 is an 11.3% premium to current levels. 

Options bulls are chiming in, with 9,093 calls across the tape so far, or double the intraday average volume, compared to 4,616 puts. Most popular is the weekly 2/23 54-strike call.

Now could be a good time to weigh in on the security's next move with options. The stock is seeing attractively priced premiums at the moment, per Alcoa stock's Schaeffer's Volatility Index (SVI) of 52%, which sits in the low 9th percentile of its annual range. 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI