Alcoa’s Target, Estimates Lowered at Goldman Sachs Ahead of Earnings (AA)

Aluminum producer Alcoa Inc. (AA) on Thursday caught some negative commentary from analysts at Goldman Sachs.

The firm cut its price target on AA from $11 to $10, suggesting a smaller 12% upside to the stock’s Wednesday closing price of $8.92. Goldman also lowered its earnings estimates for the company through 2014, citing lower aluminum pricing assumptions.

Alcoa shares posted small losses in premarket trading Thursday.

The Bottom Line
Shares of Alcoa (AA) have a 1.35% dividend yield, based on last night’s closing stock price of $8.92. The stock has technical support in the $8 price area. If the shares can firm up, we see overhead resistance around the $10-$11 price levels.

Alcoa Inc. (AA) is not recommended at this time, holding a DARS™ Rating of 2.9 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here