Alcoa price target raised to $42.50 from $38 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Alcoa (AA) to $42.50 from $38 and keeps an Overweight rating on the shares. The firm, which updated price targets and estimates across its mining coverage to factor in new commodity price forecasts and forex assumptions, sees a weakening dollar and supply disruptions at major copper producers pushing metal prices higher.