Credit Suisse Upgrades Alcoa (AA) to Outperform

Credit Suisse analyst Curt Woodworth upgraded Alcoa (NYSE: AA) from Neutral to Outperform with a price target of $27.00 (from $26.00).

The analyst comments "We upgrade Alcoa to Outperform from Neutral as we expect alumina prices to recover on significant capacity cuts in China, an end to inventory destocking, and the Alpart shutdown. Smelter profit margins have improved significantly with LME prices remaining firm despite global macro headwinds and sharp declines in key raw material inputs for alumina, caustic soda, energy, and calcined coke."

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 $21.20 yesterday.

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