Aluminum is a Dog - Goldman Sachs (AA) (DBB)
Tweet
Share
E-mailGet Alerts AA Hot Sheet
Price: $44.24 -2.28%
Rating Summary:
20 Buy, 13 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 5
Rating Summary:
20 Buy, 13 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 5
Join SI Premium – FREE
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).
"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).
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Natural Gas Inventory 32 bcf vs 32 bcf Expected
- Intel (INTC) PT Lowered to $125 at Cantor Fitzgerald on Cloudy Picture for Client, Share Losses
- T-Mobile (TMUS) PT Lowered to $280 at Benchmark, Buy Rating Maintained
Create E-mail Alert Related Categories
Analyst Comments, Commodities, ETFsRelated Entities
Goldman SachsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
