Alcoa Corporation shares are trading lower after Morgan Stanley downgraded the stock from Equal-Weight to Underweight and lowered its price target from $43 to $33. Also, Credit Suisse lowered its price target on the stock from $50 to $46.
Portfolio Pulse from Benzinga Newsdesk
Alcoa Corporation's stock is trading lower after Morgan Stanley downgraded it from Equal-Weight to Underweight and lowered its price target from $43 to $33. Credit Suisse also reduced its price target from $50 to $46.
June 22, 2023 | 2:58 pm
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Alcoa Corporation's stock is expected to face downward pressure after Morgan Stanley's downgrade and lowered price targets from both Morgan Stanley and Credit Suisse.
Morgan Stanley's downgrade from Equal-Weight to Underweight indicates a negative outlook on the stock. Additionally, lowered price targets from both Morgan Stanley and Credit Suisse suggest that the stock may be overvalued, leading to potential short-term downward pressure.
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