BofA Securities analyst Lawson Winder lowered the price target on Alcoa (NYSE: AA) to $52.00 (from $53.00) while maintaining a Buy rating after trimming EBITDA estimates below the Street.

The analyst commented, "With commodity pricing (15/30-day lag on aluminum/alumina) locked in, we update our Alcoa (AA) model and now see Q2’23 adjusted EBITDA of $133 million (m) (vs. $193m prior). This is below Bloomberg/Visible Alpha consensus of $177m/$189m."