Dahlman Rose maintains a 'Buy' on Alcoa (AA); Sending a Wake-Up Call to the Industry
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Price: $51.85 +2.57%
Rating Summary:
20 Buy, 13 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
20 Buy, 13 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
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Dahlman Rose maintains a 'Buy' on Alcoa (NYSE: AA) price target of $17.50.
Dahlman analyst says, "After the close, Alcoa announced its intention to permanently close or curtail 531,000 mt, or 12% of its global smelting capacity, which we believe is a step in the right direction to stabilize the aluminum price."
"We are adjusting our 4Q11 EPS estimate to $0.01 from $0.09 and our full-year EPS estimate to $0.74 from $0.84 to reflect the decline in aluminum prices and soft demand in Europe. Our adjusted estimates are exclusive of the change expected to result from Alcoa's planned capacity closures and curtailments."
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 $9.36 yesterday.
Dahlman analyst says, "After the close, Alcoa announced its intention to permanently close or curtail 531,000 mt, or 12% of its global smelting capacity, which we believe is a step in the right direction to stabilize the aluminum price."
"We are adjusting our 4Q11 EPS estimate to $0.01 from $0.09 and our full-year EPS estimate to $0.74 from $0.84 to reflect the decline in aluminum prices and soft demand in Europe. Our adjusted estimates are exclusive of the change expected to result from Alcoa's planned capacity closures and curtailments."
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 $9.36 yesterday.
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