Citigroup Maintains Buy on Alcoa, Lowers Price Target to $42
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Alexander Hacking has maintained a 'Buy' rating on Alcoa (NYSE:AA) but lowered the price target from $50 to $42.
July 21, 2023 | 3:44 pm
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Alcoa's price target has been lowered from $50 to $42 by Citigroup, though the 'Buy' rating is maintained.
The lowering of the price target by Citigroup could potentially create a negative sentiment among investors, which might put downward pressure on Alcoa's stock price in the short term. However, the maintained 'Buy' rating indicates that Citigroup still sees potential in the company, which could offset some of the negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100