Why Analysts Are Still Bullish on Alcoa Stock
Alcoa (AA) carries a mean consensus price target of $58.3, which represents a 42.7% upside over its October 1 closing price. Alcoa has received a “strong buy” rating from three analysts, while eight analysts rate it as a “buy.” The remaining four analysts polled by Thomson Reuters on October 1 rate Alcoa as a “hold” or some equivalent. Last month, Berenberg initiated coverage on Alcoa with a “buy” rating and a $54 price target.