Friday, January 28, 2011

Alcoa (NYSE:AA) PT Boosted by Goldman (NYSE:GS)

Alcoa (NYSE:AA) had their price target raised by Goldman Sachs (NYSE:GS), while introducing their EPS estimate for 2013 of $1.40 a share.

Goldman also noted that per Alcoa's Saudi Arabia JV Ma'adan, they'll be coming online with their flat rolled mill and smelter sometime in 2013.

Alcoa has gotten a boost from expectations aluminum demand and prices will continue to move up in 2011, as the share price recovers from a long lull.

Alcoa closed Thursday at $16.47, down $0.13, or 0.78 percent. Goldman raised their price target on them from $16 to $17.

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