Nomura Securities Reiterates a 'Neutral' on Alcoa (AA); Review of Q1

Nomura Securities reiterates a 'Neutral' on Alcoa (NYSE: AA) price target of $12.00.

Analyst, Curt Woodworth, said, "Alcoa’s 1Q EPS of $0.10 (vs Nomura estimate of $0.02) was driven by very strong volume and margin performance in downstream manufacturing segments, partially offset by weakness in upstream. AA is becoming much more dependent on upstream recovery to drive earnings higher. With aluminum prices back down to $0.92/lb and China demand-side risks growing, we are hard pressed to make the bull case for AA’s upstream segments at this point."

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 $9.32 yesterday.

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