BofA Boosts Alcoa Price Target to $42, Company to Sell 10 Smelter Sites
Bank of America raised its price target on Alcoa to $42 from $38 after revising 2026 metal price forecasts, while maintaining an Underperform rating. Alcoa plans to sell 10 closed smelting sites to data center operators, expecting the first sale by end of June to leverage their reliable energy access.
1. Price Target Raised on Revised Metal Forecasts
Bank of America increased its price target on Alcoa to $42 from $38 based on updated 2026 metal price forecasts. The firm retained an Underperform rating and adjusted its valuation outlook across North American metals and mining stocks under its coverage.
2. Asset Sale Plans for Smelting Sites
Alcoa is targeting the sale of 10 closed or curtailed smelting sites to data center operators, with the first transaction expected by the end of June. CEO Bill Oplinger emphasized the value of these sites’ reliable energy access and suggested that growing AI infrastructure demand could further enhance their worth.