Morgan Stanley downgraded Alcoa (AA) to Equal Weight from Overweight with a price target of $64, up from $52. While the firm continues to see the company benefitting from elevated LME aluminum pricing, the stock has significantly outperformed peers in recent months and the firm now sees a more balanced risk-reward, the analyst tells investors.
Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AA: