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Fly News Breaks for December 20, 2016
AA
Dec 20, 2016 | 07:15 EDT
As previously reported, Macquarie upgraded Alcoa to Outperform from Neutral. Macquarie's Commodities increased its long-term forecast for both alumina and aluminum due to improved demand expectations and higher current spot movements. As a result, analyst Anthony Young raised is view of Alcoa and increased its price target to $39 from $30 saying it is the best way to participate in the picup in global GDP and recommends using any weakness to build or initiate positions.
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