Kaiser Aluminum price target raised to $80 from $68 at JPMorgan

JPMorgan raised the firm’s price target on Kaiser Aluminum to $80 from $68 and keeps a Neutral rating on the shares ahead of the Q1 report. The firm remains constructive on the group longer term given aluminum’s recyclability and light weight, which it believes will play a key role in the energy transition over the next few decades. The higher target reflects “warranted multiple expansion as witnessed in the broader industrials space,” JPMorgan contends.