Wells Fargo lowered its price target for Alcoa (NYSE:AA) from $71.00 to $60.00.
The firm maintained its overweight rating on the industrial products stock.
This new target implies a 27.5% upside from the $47.04 opening price.
Alcoa recently reported quarterly earnings that fell below consensus expectations.
Broader analyst sentiment remains mixed with a consensus Hold rating.
The average analyst price target for the company currently stands at $60.09.