Alcoa Corp (AA) Analysts Set Price Target at $92 Following Acquisition

On July 1, Alcoa Corp (AA) announced the acquisition of South32's bauxite, alumina, and aluminum assets. B. Riley reiterated a Buy rating with a price target of $92, despite concerns over short-term leverage. Earlier, Wells Fargo adjusted its price target from $82 to $71, reflecting cautious sentiment due to aluminum price weakness. Analysts highlight potential cost savings and improved competitiveness as long-term benefits of the acquisition, potentially offsetting recent share price declines.