Alcoa price target lowered to $52 from $56 at Morgan Stanley

Morgan Stanley analyst Carlos De Alba lowered the firm’s price target on Alcoa to $52 from $56 and keeps an Equal Weight rating on the shares. De Alba believes there is downside to consensus estimates for Alcoa in the medium-term and that as negative earnings revisions materialize, thinks the stock will face downward pressure and it is unlikely to outperform, the analyst tells investors in a research note.