Alcoa (AA) PT Raised to 'Street High' $90 at Jefferies

February 14, 2022 8:06 AM EST
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Price: $52.76 -0.96%

Rating Summary:
    17 Buy, 13 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 8 | Down: 40 | New: 22
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Jefferies analyst Christopher LaFemina raised the price target on Alcoa (NYSE: AA) to a 'Street High' $90.00 (from $75.00) while maintaining a Buy rating.

The analyst commented, "The escalation of Russia/Ukraine tensions could lead to a supply shock and cost push inflation in aluminum and other commodities. The risk to our price forecasts is clearly to the upside. Even without Russia/Ukraine, we believe the outlook for aluminum - and for Alcoa - is positive. We have not yet adjusted our commodity price forecasts to reflect the rising geopolitical risk, but we increase our target for AA from $75/sh to a Street-high $90/sh. Reiterate Buy"

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