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Fly News Breaks for April 23, 2018
AA
Apr 23, 2018 | 08:13 EDT
Deutsche Bank analyst Chris Terry raised his price target for Alcoa to $70 to better reflect the company's spot commodity exposure. Alcoa is one of the few aluminum companies that is able to benefit when all commodities in the supply chain increase, as it does not have to source bauxite to produce alumina nor source alumina to produce aluminum on a net basis like some peers, Terry tells investors in a research note. The analyst raised his price target and keeps a Buy rating on the shares after looking at Alcoa's strategic positioning.
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