Alcoa price target raised to $41 from $37 at Wolfe Research

Wolfe Research analyst Timna Tanners raised the firm’s price target on Alcoa to $41 from $37 and keeps an Outperform rating on the shares. The firm says iron ore demand is in “structural decline” while copper risks are more balanced and alumina is supporting aluminum. Commodity prices look more appropriate, but “self-help” boosts the Alcoa investment thesis, the analyst tells investors in a research note.