Wells Fargo Downgrades Alcoa (AA) to Equal-Weight, Raises Price Target to $71.00 USD

Wells Fargo downgraded Alcoa (AA) from Overweight to Equal-Weight, but raised the price target from $58 to $71, a 22.41% increase. The move follows recent analyst updates, including a downgrade from JP Morgan and a raised price target from Citigroup. Alcoa is a vertically integrated aluminum company with operations including bauxite mining, alumina refining, and manufacturing primary aluminum.