Alcoa price target raised to $41 from $33 at HSBC

HSBC raised the firm’s price target on Alcoa (AA) to $41 from $33 and keeps a Buy rating on the shares. The firm says precious metal prices are hitting “record decades-high levels,” with copper outperforming base and bulk metals on supply disruptions. HSBC expects Freeport to benefit from the strength in copper and gold prices.