Up more than 65% from my last update on the company, I can't reiterate the Rodney Dangerfield ("no respect") thesis anymore on Alcoa (AA). Instead, the market has recognized the improving end-market conditions in the aluminum market, as well as the progress the company has made on self-help efforts (streamlining the business and selling non-core assets).
I do still see upside to the mid-$20s for Alcoa, and a price close to $30 isn't out of the question if the demand/supply balance for aluminum gets even more favorable in 2021. It's hard to like any company like Alcoa for the long term, and I don't, but as a trade there could still be some upside left here and I won't totally dismiss the possibility that the company's ESG efforts could pay off in the form of higher premiums down the road.
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An Improving Market And Ongoing Self-Help Doing Wonders For Alcoa
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