Aluminum is a Dog - Goldman Sachs (AA) (DBB)
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Price: $8.83 +0.80%
Rating Summary:
4 Buy, 6 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 28 | New: 13
Rating Summary:
4 Buy, 6 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 28 | New: 13
Trade AA Now!
Analysts at Goldman Sachs view aluminum the "least preferred" commodity. As a result, the bank lowered its aluminum price forecasts through 2014.
"We continue to view aluminum as one of our least preferred commodities for equity investors to have exposure to given the low returns resulting from a highly capital-intensive production processes and structural oversupply within the industry," said Goldman analyst Eugene King.
Aluminum will average $2,088 a metric ton this year, $2,183 a ton next year, and $2,271 a ton in 2014, according to forecasts at the bank.
Related ETFs and Stocks: Alcoa (NYSE: AA), PowerShares DB Base Metals (NYSE: DBB).
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"We continue to view aluminum as one of our least preferred commodities for equity investors to have exposure to given the low returns resulting from a highly capital-intensive production processes and structural oversupply within the industry," said Goldman analyst Eugene King.
Aluminum will average $2,088 a metric ton this year, $2,183 a ton next year, and $2,271 a ton in 2014, according to forecasts at the bank.
Related ETFs and Stocks: Alcoa (NYSE: AA), PowerShares DB Base Metals (NYSE: DBB).
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