Alcoa Corporation (NYSE:AA) is one of the best long-term ASX stocks to buy right now.
A shipping container filled with freshly-produced aluminum cans ready for distribution.
As of April 15, 2026, near-term sentiment on Alcoa Corporation (NYSE:AA) remains mixed, while the consensus price target of $75.54 implies 7.38% upside potential as aluminum prices have risen amid geopolitical unrest, with a sizable portion of analysts still retaining “Hold” ratings.
On April 9, 2026, Morgan Stanley upgraded Alcoa Corporation (NYSE:AA) from “Equal Weight” to “Overweight” and raised its price target from $64 to $80, marking a significant uplift in tone. The Middle East conflict and broader geopolitical concerns, according to the firm, are likely to keep mining stocks highly volatile.
However, the firm highlighted that Alcoa Corporation (NYSE:AA) is well-positioned in this environment, as higher aluminum prices, combined with the company’s high operating leverage, could significantly amplify earnings upside in a firmer pricing environment.
On the same day, JPMorgan partially echoed that more constructive view, raising its price target on Alcoa Corporation (NYSE:AA) to $70 from $68 while maintaining a “Neutral” rating. The bank pointed out that aluminum stocks had already rallied meaningfully since the start of the conflict, with LME aluminum up 14.07% year-to-date, as of March 30, 2026. However, the firm highlighted that the group’s near-term direction would still largely depend on how the situation in the Middle East unfolds.
Adding to the backdrop, an earlier Wall Street Journal report noted that a proposed U.S. tariff adjustment on imported aluminum-containing finished goods could increase import costs and, in turn, slightly enhance the competitive position of domestic producers, such as Alcoa Corporation (NYSE:AA).
Alcoa Corporation (NYSE:AA) is one of the largest aluminum mining companies in the world. It has operations in Spain, Norway, Iceland, Canada, and other countries.
While we acknowledge the potential of AA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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