Alcoa's (NYSE:AA) EPS Estimates Boosted by UBS (NYSE:UBS) on Pricing

Citing more pricing power from increasing aluminum demand, UBS (NYSE:UBS) raised the EPS estimates on Alcoa over the next three years.

UBS said, "Upstream benefits from pricing; downstream operations seasonally weaker...We have revised our 2011/2012/2013 EPS estimates from $1.45/1.65/2.12 to $1.53/1.75/2.33 to reflect production restarts, updated taxes, SG&A guidance, and cost forecasts."

UBS reiterates a "Neutral" rating on Alcoa, which closed Tuesday at $16.33, down $0.16, or 0.97 percent. UBS raised their price target on Alcoa from $17 to $18.