Arconic (ARNC) Gets a Buy Rating from Deutsche Bank

Deutsche Bank analyst Corinne Blanchard maintained a Buy rating on Arconic (ARNCResearch Report) on June 16 and set a price target of $34.00. The company’s shares closed last Friday at $26.46.

According to TipRanks.com, Blanchard is a 1-star analyst with an average return of -8.2% and a 30.0% success rate. Blanchard covers the Basic Materials sector, focusing on stocks such as Sociedad Quimica Y Minera SA, Lithium Americas, and Livent.

Arconic has an analyst consensus of Moderate Buy, with a price target consensus of $35.00.

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Based on Arconic’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.19 billion and net profit of $42 million. In comparison, last year the company earned revenue of $1.68 billion and had a net profit of $52 million.

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Arconic Corp is engaged in manufacturing of aluminum sheet, plate, extrusions, and architectural products, serving the ground transportation, aerospace, building and construction, industrial, and packaging end-markets. The firm’s operating segments include Rolled Products, Extrusions, and Building and Construction Systems (BCS). It generates a majority of its revenue from the Rolled Products segment.

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