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Alcoa (AA) Stock: $82 Price Target From Credit SuisseApr 11th, 2022 21:45 EST
- The shares of Alcoa Corp (NYSE: AA) have received an $82 price target from Credit Suisse. These are the details.
The shares of Alcoa Corp (NYSE: AA) have received an $82 price target from Credit Suisse. And Credit Suisse analyst Curt Woodworth adjusted the rating on Alcoa to “Neutral” from “Outperform” while increasing the price target from $68.
Woodworth believes that London Metal Exchange aluminum prices are near peak and noted that Alcoa continues to deal with inflationary pressures. And the company’s capital expenditures should start to accelerate more meaningfully for its de-carbonization targets.
Going forward, Woodworth expects aluminum supply/demand balances will start to normalize in the second half of 2022 as trade flows are gradually realigned, off-warrant material is monetized, and smelter operating rates sharply recover in China.
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