Morgan Stanley Rates Alcoa (AA) buy, $79 Price Target

Morgan Stanley Analyst Maintains Buy Call on Alcoa

Morgan Stanley analyst Carlos De Alba reaffirmed a buy rating on Alcoa Corporation NYSE: AA stock, keeping a $79 price target in place on July 1, 2026. The firm maintains its positive stance on the aluminum producer as global commodity markets navigate shifting supply and demand dynamics for bauxite and alumina.

Alcoa Stock Valuation and Market Position

Alcoa shares traded at $46.91, putting the company's market value near $10.67 billion. The stock sits under its 50-day moving average of $47.18 and its 200-day moving average of $57.65. The company currently operates with a price-to-earnings ratio of 8.61 and a forward P/E ratio of 7.05, while its 52-week trading range spans from a low of $35.12 up to a high of $84.38.

Wall Street Analyst Coverage and Price Targets

Other major financial institutions have recently updated their views on the basic materials provider. On October 14, 2026, Barclays initiated coverage with an Overweight rating and a $55 target. Shortly before that, JP Morgan maintained a Neutral rating with a $50 target on October 7, 2026, while Morgan Stanley maintained an Equal-Weight stance with a $50 target on the same day. Freedom Broker maintained a buy rating and raised its target to $76 on September 22, 2026. Wells Fargo kept an Overweight rating while adjusting its target to $60 on September 18, 2026. Argus Research kept a buy rating at a $55 target on July 22, 2026, and BMO Capital held a Market Perform rating with a $55 target on July 17, 2026. Overall, the stock holds a consensus buy rating from 13 analysts, with a mean price target of $59.75.

Alcoa Business Operations and Industry Reach

Alcoa Corporation engages in bauxite mining, alumina refining, and aluminum production across multiple continents including Australia, Brazil, Canada, and the United States. The enterprise processes bauxite into alumina for sale to third-party smelters and manufactures primary aluminum and industrial chemical products used in transportation, construction, and packaging markets. It also generates and sells wholesale electric power.

Upcoming Earnings and Financial Outlook

Investors are watching for the next earnings report from Alcoa Corporation scheduled for October 15, 2026. The company reported annual revenue of $13.60 billion with a revenue growth rate of 31.4% and a net margin of 9.39%. Its return on equity stands at 18.23%, alongside an annual dividend yield of 1.0% with a payout ratio of 8.32% based on earnings per share of $4.69.