Barclays Says Alcoa (AA) Is Managing Through Tough Times; Cuts Numbers, Sees Better Opportunity in FCX
Tweet Send to a FriendGet Alerts AA Hot Sheet
Price: $8.11 -0.12%
Rating Summary:
4 Buy, 6 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 24 | Down: 17 | New: 24
Rating Summary:
4 Buy, 6 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 24 | Down: 17 | New: 24
Trade AA Now!
Barclays maintains an 'Equalweight' on Alcoa (NYSE: AA) price target of $10.00 (from $11.00).
After yesterday's Q2 results, Barclays is lowering FY12 EPS estimates from $0.45 to $0.32 and FY13 from $1.13 to $0.85. The firm also lowers its aluminum price assumptions for Q3/Q4 and for FY13 from between $1.00/1.06lb to $0.94/0.98lb.
Analyst, David Gagliano, said, "While AA continues to do a very good job of managing through a difficult pricing environment, in our view, we maintain our opinion that there are better investment opportunities among base metal equities (i.e., Freeport-McMoRan (NYSE: FCX))."
For an analyst ratings summary and ratings history on Alcoa click here. For more ratings news on Alcoa click here.
Shares of Alcoa closed at $8.76 yesterday, with a 52 week range of $8.21-$16.16.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
After yesterday's Q2 results, Barclays is lowering FY12 EPS estimates from $0.45 to $0.32 and FY13 from $1.13 to $0.85. The firm also lowers its aluminum price assumptions for Q3/Q4 and for FY13 from between $1.00/1.06lb to $0.94/0.98lb.
Analyst, David Gagliano, said, "While AA continues to do a very good job of managing through a difficult pricing environment, in our view, we maintain our opinion that there are better investment opportunities among base metal equities (i.e., Freeport-McMoRan (NYSE: FCX))."
For an analyst ratings summary and ratings history on Alcoa click here. For more ratings news on Alcoa click here.
Shares of Alcoa closed at $8.76 yesterday, with a 52 week range of $8.21-$16.16.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Oppenheimer Upgrades GameStop (GME) to Outperform
- UPDATE: Global Equities Starts Tesla Motors (TSLA) at Overweight
- Albert Fried & Co Raises PT on Live Nation (LYV), Highlights Catalysts
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Barclays
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
