Kaiser Aluminum price target raised to $100 from $84 at Benchmark

Benchmark analyst Josh Sullivan raised the firm’s price target on Kaiser Aluminum to $100 from $84 and keeps a Buy rating on the shares. Kaiser is more leveraged to Boeing (BA) on the aerostructure side, and while 737 production rates remain at low levels, communication to the supply chain has been to not structurally slow down, notes the analyst, who adds that with packaging and general engineering destocking having come to an end, Kaiser should see some incremental baseline support as well.