UBS maintains a 'Neutral' on Alcoa (AA); Adjusting Estimates

UBS maintains a 'Neutral' on Alcoa (NYSE: AA) price target lowered from $13.00 to $11.50.

UBS analyst says, "Given the ongoing global demand weakness, we have elected to slow down the restart of some of Alcoa’s idled smelter capacity which previously we had included in 2013. In addition, we have m.ade marginal revisions to our downstream demand projections."

"EPS revisions: revised to reflect cost structure and downstream demand We revised our 2012 EPS estimate from $0.97 to $0.78 and our 2013 EPS estimate from $1.93 to $1.70 to reflect the lower volume expectations and higher costs discussed above."

For more ratings news on Alcoa click here and for the rating history of Alcoa click here.

Shares of Alcoa closed at $10.14 yesterday.

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