Why Alcoa Stock Just Popped Again
Three Wall Street analysts have upgraded Alcoa (NYSE: AA) stock.
The month of March began with an upgrade from Goldman Sachs, which posited a $32 share price for Alcoa based on its expectation that aluminum prices will rise from $2,300 to $2,500 to $2,750 per ton over the next three years. Last week, Deutsche Bank suggested that even if aluminum costs only $2,145 a ton this year, and $2,050 next year, that should be worth $36 a share to Alcoa. And today, we have yet another upgrade, from Morgan Stanley -- and this analyst thinks Alcoa could be worth $43 a share.
Alcoa stock is up 11% as of 11 a.m. EDT in response.
Source Fool.com
