ALCOA (AA $11.07, rated Overweight with $18 target) PERFORMANCE BETTER DESPITE SOFT ALUMINUM PRICES; CUT 2010-11 AND RAISED 2012-15 EARNINGS ESTIMATES; RAISED PRICE TARGET TO $18 AND RATING TO BUY 7/13/2010

ALCOA (AA $11.07, rated Overweight with $18 target) PERFORMANCE BETTER
DESPITE SOFT ALUMINUM PRICES; CUT 2010-11 AND RAISED 2012-15
EARNINGS ESTIMATES; RAISED PRICE TARGET TO $18 AND RATING TO BUY 7/13/2010