UBS analyst Alex Stansbury upgraded Kaiser Aluminum Corporation (NASDAQ:KALU) to a Buy rating on Monday, raising the firm’s price target from $179 to $184. The upgrade followed a strong second‑quarter of fiscal 2026, where price, volume and product mix contributed approximately $41 million of EBITDA growth, representing a 60 % year‑on‑year increase. Despite the earnings strength, the stock had fallen about 19 % from its August highs, pressured by ongoing USMCA renegotiations, a recent CEO transition, and market concerns over the sustainability of scrap spreads. UBS views the recent sell‑off as an attractive entry point, noting that scrap continues to provide a meaningful tailwind and that underlying fundamentals are improving. The brokerage expects the company’s fiscal 2026 guidance of more than 50 % EBITDA growth to be achievable and projects a 66 % increase, while noting that Kaiser Aluminum’s enterprise‑value to EBITDA multiple has narrowed to roughly 7.5×, down from an industry average of 8.6×. UBS also highlighted continued benefits from investments at the Warrick and Trentwood facilities and the anticipated end of aerospace destocking as aircraft build rates accelerate.