UBS Lowers Estimates on Alcoa (AA)
UBS reported on Monday that it has lowered its estimates for aluminum company, Alcoa Inc (AA).
The firm has reduced its FY2013 estimates for Alcoa due to higher aluminum prices on the London Medal Exchange which will offset declined production and shipments.
UBS currently has a price target of $10 on the company. This price target suggests a 15% increase from the stock’s current price of $8.50
Alcoa shares were up 5 cents, or 0.59% during premarket trading Monday. The stock has declined -16% in the past year.
The Bottom Line
Shares of Alcoa Inc (AA) have a 1.42% yield, based on Friday’s closing price of $8.45.
Alcoa Inc (AA) is not recommended at this time, holding a Dividend.com DARS™ Rating of 2.9 out of 5 stars.
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