ALCOA (AA $10.76, rating NEUTRAL PRICE TARGET cut to $13 from $15/share) LOWER LME ALUMINUM PRICE ESTIMATES LOWER EARNINGS; SLIGHT ESTIMATED ALUMINUM COST REDUCTIONS PARTIALLY OFFSET; $100 MILLION IN ESTIMATED WRITEDOWNS FOR BOTH 2012 and 2013 2/3/2012

ALCOA (AA $10.76, rating NEUTRAL PRICE TARGET cut to $13 from $15/share)
LOWER LME ALUMINUM PRICE ESTIMATES LOWER EARNINGS; SLIGHT
ESTIMATED ALUMINUM COST REDUCTIONS PARTIALLY OFFSET; $100
MILLION IN ESTIMATED WRITEDOWNS FOR BOTH 2012 and 2013
    2/3/2012