Alcoa Higher After Upgrade

Alcoa Corp AA shares are trading higher by $0.71 (2.2 percent) at $34.20 in Friday's session.

The catalyst for the rally is an upgrade from BMO Capital, who changed its rating from Market Perform to Outperform and raised its price target from $35.00 to $45.00.

The stock, which had a wide range from $32.96 to $35.14, ended Thursday's session at $33.49. It was just above that area that the issue found support after a higher open, finding buyers at $33.60. So far, the continuation rally stopped short of Thursday's high as the current high stands at $34.46.

Alcoa is attempting to post its first close over $34.00 since it ended the March 20 session at $34.90.