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:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AA:
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue