UBS raised the firm’s price target on Alcoa (AA) to $34 from $31 and keeps a Neutral rating on the shares. A soft patch in Q3 has not materialized and UBS is positive on copper, aluminum, and gold looking forward, the analyst tells investors in a research note.
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Read More on AA:
- Positive Outlook and Long-Term Growth Potential for Alcoa Amidst Stable EBITDA and Increased Aluminum Price Forecasts
- Alcoa down 1% after issuing guidance at Morgan Stanley conference
- Alcoa sees Q3 aluminum shipments 15,000 metric tons lower than anticipated
- Alcoa price target raised to $38 from $37 at B. Riley
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