Alumina Limited given new $1.60 price target at Morgan Stanley

Alumina Limited had its price target upped by Morgan Stanley to $1.60 in a research note issued to investors on Wednesday. The firm currently has an overweight rating on the stock.

Morgan Stanley has also taken action a number of other stocks recently. The firm downgraded shares of Statoil ASA(ADR) from an overweight rating to an equal weight rating. Also, Morgan Stanley reiterated its overweight rating on shares of Compania de Minas Buenaventura SAA (ADR). They have a $15.30 price target on that stock. Finally, Morgan Stanley reiterated its overweight rating on shares of Smith & Nephew plc (ADR).

Alumina Limited traded up 0.35% during mid-day trading on Wednesday, hitting A$1.420. The stock had a trading volume of 12,842,426 shares. Alumina Limited has a 52-week low of A$0.935 and a 52-week high of A$1.5375. The stock’s 50-day moving average is A$1.40 and its 200-day moving average is A$1.30. The company’s market cap is A$3.985 billion.

Separately, analysts at Deutsche Bank downgraded shares of Alumina Limited to a hold rating in a research note on Sunday. They now have a $1.45 price target on the stock.

Alumina Limited, is an Australia-based company.

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