Alcoa price target raised to $42 from $41 at B. Riley

B. Riley analyst Lucas Pipes raised the firm’s price target on Alcoa to $42 from $41 and keeps a Neutral rating on the shares following the Q4 results. The miss versus estimates was primarily driven by higher production costs, along with a $25M charge for the Alumar refinery, Pipes tells investors in a research note. The analyst says the firm’s lower near-term estimates are offset by a slightly higher long-term price deck.