Wells Fargo raised the firm’s price target on Alcoa (AA) to $58 from $40 and keeps an Overweight rating on the shares. The firm says supply constraints can support copper and aluminum prices, especially through Q3 2026. Wells also points out that steep power costs and copper switching especially boost aluminum.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AA:
- Alcoa price target raised to $54 from $42 at Citi
- Morgan Stanley downgrades Ivanhoe to Equal Weight, sees limited upside
- Morgan Stanley downgrades Southern Copper, says valuation unwarranted
- Nexa Resources price target raised to $7.70 from $5 at Morgan Stanley
- Southern Copper downgraded to Underweight from Equal Weight at Morgan Stanley