B. Riley analyst Nick Giles lowered the firm’s price target on Alcoa (AA) to $43 from $44 and keeps a Buy rating on the shares after the company reported Q1 results, including adjusted EBITDA excluding special items that was above the firm’s estimate and the FactSet consensus. Following the report, the firm raised its Q2 adjusted EBITDA estimate to $439M from $351M, the analyst noted.
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