B. Riley Securities has decided to maintain its Neutral rating of Alcoa (NYSE:AA) and lower its price target from $84.00 to $54.00.
Shares of Alcoa are trading down 1.09% over the last 24 hours, at $49.02 per share.
A move to $54.00 would account for a 10.16% increase from the current share price.
Alcoa is a vertically integrated aluminum company whose operations include bauxite mining, alumina refining, and the manufacture of primary aluminum. It is the world's largest bauxite miner and alumina refiner by production volume, and its profits are closely tied to prevailing commodity prices along the aluminum supply chain.
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