UBS Upgrades Kaiser Aluminum to Buy, Raises Price Target to $184

According to CNBC, UBS upgraded Kaiser Aluminum to buy from neutral and raised its price target to $184 from $179, implying nearly 18% upside from Friday's close. Analyst Alex Stansbury said the recent selloff offers investors an attractive entry point into a business with improving earnings power. Shares of Kaiser Aluminum rose nearly 3% in Monday's session after falling 13% over the past three months, a decline tied largely to trade-related headwinds and a leadership shakeup. The stock was last trading about 20% below its 52-week high of $199.89, reached on Aug. 12. UBS said aluminum industry tailwinds could help the shares recover and said the company's underlying fundamentals are strengthening, supported by investments at Warrick/Trentwood and the end of aero destocking as build rates accelerate. LSEG data showed that of the four analysts covering Kaiser Aluminum, two rate it underperform, one has a buy rating and one has a hold.