Alcoa price target lowered to $25 from $26 at BofA

BofA lowered the firm’s price target on Alcoa (AA) to $25 from $26 and keeps an Underperform rating on the shares after the company reported Q1 results. Alcoa is “taking the right steps,” but the firm sees “strong and persistent headwinds,” such as the current tariff environment, falling aluminum and alumina prices, the sub-optimal restart of the high-cost San Ciprian smelter in Spain, and rising input costs as a function of tariffs, the analyst tells investors.