Alcoa’s Estimates Cut at Citigroup on Pricing Concerns (AA)

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Aluminum producer Alcoa Inc. ( AA ) on Thursday saw its earnings estimates lowered by analysts at Citigroup.

The firm said it cut its estimates for AA through 2011, citing rising input costs and lower-than-expected aluminum selling prices.

Citigroup maintained its "Hold" rating an $17 price target for AA, however, which suggests a small upside to the stock's Wednesday closing price of $16.24.

Alcoa shares rose 9 cents, or +0.6%, in premarket trading Thursday.

The Bottom Line
Shares of Alcoa ( AA ) have a .74% dividend yield, based on last night's closing stock price of $16.24. The stock has technical support in the $14-$15 price area. If the shares can firm up, we see overhead resistance around the $18 price level.

Alcoa Inc. ( AA ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 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 .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: AA

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