B. Riley analyst Lucas Pipes raised the firm’s price target on Alcoa to $41 from $37 and keeps a Neutral rating on the shares. Benchmark Premium Low Volume coal pricing declined 1.4% week over week, closing Friday at $181/Mt as weak buying sentiment persisted in coal markets, the analyst tells investors in a research note. The firm estimates an adjusted EBITDA of $287M versus consensus of $407M and the firm’s prior estimate of $332M.the analyst tells investors in a research note.
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