Morgan Stanley raised the firm’s price target on Alcoa (AA) to $49 from $48 and keeps an Overweight rating on the shares. After updating estimates to incorporate the latest company guidance following Q3 earnings and marked to market 4Q24-1Q25 commodity prices, the firm’s new mid-2025 price target is raised by $1, the analyst tells investors. The firm sees further upside to earnings at current spot prices, the analyst added.
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