UBS upgrades Alcoa to Buy as Middle East supply disruptions are not fully priced in
Alcoa (AA) was upgraded to 'Buy' from 'Neutral' by UBS, with a raised price target of $80. The upgrade is based on the belief that ongoing smelter outages due to protracted conflict in the Middle East will offset near-term demand risks.
Tickers: $AA
Topics: Alcoa aluminum industry UBS upgrade