Alcoa shares are trading lower after JP Morgan downgraded the stock from Overweight to Neutral and lowered its price target from $54 to $36.
Portfolio Pulse from Benzinga Newsdesk
JP Morgan has downgraded Alcoa's stock from Overweight to Neutral and reduced its price target from $54 to $36. This has resulted in Alcoa's shares trading lower.
July 14, 2023 | 3:58 pm
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Alcoa's stock has been downgraded by JP Morgan, leading to a decrease in its share price.
JP Morgan's downgrade of Alcoa's stock from Overweight to Neutral and the lowering of its price target from $54 to $36 has negatively impacted the company's share price. This is because such actions by a major financial institution can influence investor sentiment and market perception of the company's future performance.
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