Alcoa: Credit Suisse downgrades 'outperform' rating

(CercleFinance.com) - Credit Suisse has downgraded its "outperform" rating on the Alcoa share to "neutral," while cutting its target price from 40 dollars to 31 dollars, after the aluminum manufacturer cut its 2019 EBITDA forecast from 2.
7 billion to 2 billions dollars.

"China is set to accelerate supply growth over the next several years,"the broker said, ading that it is "concerned about plans for accelerated strengthening foundries in the country in 2020 and 2021".

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