JPMorgan raised the firm’s price target on Alcoa (AA) to $28 from $25 and keeps a Neutral rating on the shares. The firm says the company’s tariff uncertainty persists. It cut Alcoa’s Q2 EBITDA estimate by 24% to $280M following the company’s guidance update at a conference. JPMorgan, however, continues to question the durability of 50% S232 steel and aluminum tariffs.
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