Alcoa price target raised to $43.50 from $42.50 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Alcoa (AA) to $43.50 from $42.50 and keeps an Overweight rating on the shares. The firm, which expects the company will share plans for creating value across the aluminum supply chain from bauxite to aluminum during its investor day, also sees scope for Alcoa to announce higher capital returns to shareholders, the analyst tells investors in a preview of the event.