Goldman Sachs Maintains a 'Neutral' on Alcoa (AA); Q2 Largely Uneventful; No Catalyst in Sight

July 10, 2012 9:25 AM EDT
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Goldman Sachs maintains a 'Neutral' on Alcoa (NYSE: AA) price target of $10.00.

Analyst, Sal Tharani, said, "Alcoa’s second quarter earnings announcement was largely uneventful with macro continuing to dominate the conversations. Realized aluminum prices for the quarter were in line with GS estimates at $1.06/lb, $0.16 above the LME average price for the quarter. The Alumina and Primary metals segments reported stronger than our estimated ATIO. Alcoa made notable upward revisions to its 2012 growth estimates in NA auto, NA beverage can packaging and IGT end markets. Downward revisions were made to NA and China heavy truck and trailer end markets."

FY12 EPS estimates lowered from $0.38 to $0.37.

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.

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