Arconic Inc

Arconic lifted in pre-market on back of JP Morgan note

It was the company, formerly Alcoa, which produced and supplied the cladding, which were then fitted to the block

J P Morgan had a note on Arconic today

Metals engineer Arconic Inc (NASDAQ:ARNC) jumped up almost 2% in pre-market deals as broker heavyweight JP Morgan gave the share an upgrade.

The firm has been much in the news in late due to the connection with the horrific fire in West London, UK.

It was the company, formerly Alcoa,  which produced and supplied the cladding, which were then fitted to the highrise block.

Shares tumbled in the wake around 20% in the wake of the tragedy, but JP Morgan analyst Seth Seifman said the valuation, in the wak of the share sell-off, was now improved.

He targets $28 for the shares, which stand at $23.5 at the time of writing.

Quick facts: Arconic Inc

Price: $27.09

Market: NYSE
Market Cap: $11.92 billion

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