JPMorgan analyst Bill Peterson downgraded Kaiser Aluminum (KALU) to Underweight from Neutral with a price target of $142, up from $124. The company’s leverage profile remains elevated relative to peers, the analyst tells investors in a research note. JPMorgan also sees marginal risk for Kaiser from scrap spread compression in 2027, partly reversing recent tailwinds. It views the stock’s valuation as “rich” at current levels.
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