Wall Street major Morgan Stanley's upgrade of the aluminum company Alcoa (AA) to “Overweight” resulted in its shares rising by more than 2%. The institution's bull case was primarily based on the disruptions brought about by the war in the Middle East, a region that accounts for 9% of the global aluminum supply. About 70% of which is exported.
Consequently, the firm has revised its pricing for Alcoa's aluminum segment higher by 13% in 2026, along with a 41% and 52% upward revision in EBITDA and EPS, respectively.
