tiprankstipranks

Alcoa upgraded to Peer Perform on balanced risks at Wolfe Research

Wolfe Research analyst Timna Tanners upgraded Alcoa to Peer Perform from Underperform without a price target. The upgrade reflects a view that the company’s risks are more balanced with aluminum prices having more limited downside, supported by better fundamentals for alumina, where Alcoa “has a unique long position,” the analyst tells investors in a research note. The firm sees limited downside to aluminum prices and the stock following the recent pullback.

Confident Investing Starts Here:

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Disclaimer & Disclosure

Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.

Report an Issue