Citigroup Cuts Price Target, Estimates on Alcoa (AA)

Due to lower expected aluminum prices, analysts at Citigroup lowered the price target and earnings estimates on aluminum producer Alcoa Inc (AA) on Monday.

The analysts now see shares of AA reaching $9, which suggests a 9% upside to Friday’s closing price of $8.22.

Alcoa shares were down 9 cents, or -1.09%, during pre-market trading on Monday. The stock is down -5.3% year-to-date.

The Bottom Line
Shares of Alcoa (AA) have a dividend yield of 1.46% based on Friday’s closing price of $8.22 and the company’s annualized dividend payout of 12 cents per share.

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.

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