Alcoa price target lowered to $26 from $34 at B. Riley

B. Riley lowered the firm’s price target on Alcoa to $26 from $34 and keeps a Neutral rating on the shares. Alcoa now expects bauxite quality to remain largely unchanged until 2027, which is “much longer than previous guidance of at least until mid-2024,” notes the analyst, who believes more direct actions than the current efficiency and cost saving plans are likely to be taken by the company if cash flow remains challenged.