Alcoa price target lowered to $25 from $28 at JPMorgan

JPMorgan analyst Bill Peterson lowered the firm’s price target on Alcoa (AA) to $25 from $28 and keeps a Neutral rating on the shares following the Q1 report. The firm says share weakness at the open, but says that with expectations seemingly reset, further downside may be limited “absent a deep recession.” The analyst remains on the sidelines citing ample uncertainty ahead with steel tariffs “appearing sticky for the foreseeable future.”