Alcoa benefiting from healthy pricing environment, says BMO Capital

BMO Capital keeps a Market Perform rating and $43 price target on Alcoa (AA) following its Q4 earnings beat while noting that the company is benefiting from a “healthy pricing environment”. Alcoa’s 2025 outlook was mostly in line, except for higher-than-expected capex, and while tariffs uncertainty represents somewhat of a risk, U.S. operations should benefit from higher MWP, or Midwest premium, the analyst tells investors in a research note.