Alcoa (AA) is downgraded to Neutral from Overweight with a $9 price target, down from $12, at...

|By:, SA News Editor

Alcoa (AA) is downgraded to Neutral from Overweight with a $9 price target, down from $12, at J.P. Morgan, which says AA's efforts to cut costs in its upstream businesses likely will be overshadowed by persistently weak aluminum prices. Outside of a material rise in prices or significantly better investor sentiment, the firm sees few catalysts for AA shares in the near term. AA -2% premarket.