BMO Capital lowered the firm’s price target on Alcoa to $29 from $30 and keeps a Market Perform rating on the shares after its Q4 results and guidance. The company’s Q1 outlook was “disappointing” and 2024 is seeing a softer-than-expected start, but increased clarity on near-term actions is driving potential improvements that are not dependent on the market, the analyst tells investors in a research note.
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