Shares of specialty aluminum producer Kaiser Aluminum KALU.O rise more than 2% to nearly $160 premarket
UBS upgrades stock to "buy" from "neutral" and raises PT to $184 from $179, implying an almost 28% upside to stock's last close
Brokerage says KALU stock dropped too much for the wrong reasons such as tariff worries, CEO transition and scrap spread sustainability, creating a good buying opportunity
Sees benefits from Warrick/Trentwood investment and the end of aerospace destocking with production rates picking back up
2 of 4 brokerages rate the stock "buy", 2 "sell"; median PT at $183 - data compiled by LSEG
As of last close, stock has risen more than 36% YTD
KALU•
