Jefferies Downgrades Alcoa (AA) to Hold, Prefers Freeport-McMoRan (FCX)

September 18, 2012 6:37 AM EDT
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Price: $36.21 +1.54%

Rating Summary:
    15 Buy, 13 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
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Jefferies downgraded Alcoa (NYSE: AA) from Buy to Hold with a price target of $11.00.

The analyst comments, "We have said for some time that if/when Alcoa shares got an upside bump, we would be inclined to downgrade the stock. It did. We are downgrading. Within base metals, we strongly prefer the shares of FCX (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 $9.58 yesterday.

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