Morgan Stanley Upgrades Alcoa (AA) to Overweight

Morgan Stanley analyst Carlos De Alba upgraded Alcoa (NYSE: AA) from Equalweight to Overweight with a price target of $43.00.

The analyst commented, "... expect the company to benefit from bullish near- and long-term dynamics in the aluminum market. AA is trading at 4.0x 2022e EV/EBITDA, well below its historical average of 7.5x, and we see material upside risk to consensus estimates."

For an analyst ratings summary and ratings history on Alcoa click here. For more ratings news on Alcoa click here.

Shares of Alcoa closed at $30.43 yesterday.

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