Alcoa Up 2% Amid Nomura Upgrade Ahead Of Q4 Earnings Report

Shares of Alcoa Inc AA moved higher in Monday’s premarket ahead of the company’s Q4 earnings release.

Adding to the momentum was an upgrade at Nomura from Neutral to Buy. The firm also raised its price target from $15 to $23.

The Nomura upgrade follows Morgan Stanley’s positive earnings preview in December.

Alcoa recently traded at $16.44, up 2.05 percent.