Home › Download › ALCOA (AA $11.92, rating raised to Overweight from Neutral, Price Target raised to $17 from $12) HIGHER ESTIMATED MIDWEST PREMIUMS OVERCOMPENSATE FOR LOWER ESTIMATED 2014 and 2015 LME ALUMINUM INGOT PRICES RESULTING IN INCREASED EARNINGS ESTIMATES; ESTIMATED CAPITAL EXPENDITURES REDUCED BY $1 BILLION ANNUALLY 2014-2017 3/26/2014

ALCOA (AA $11.92, rating raised to Overweight from Neutral, Price Target raised to $17 from $12) HIGHER ESTIMATED MIDWEST PREMIUMS OVERCOMPENSATE FOR LOWER ESTIMATED 2014 and 2015 LME ALUMINUM INGOT PRICES RESULTING IN INCREASED EARNINGS ESTIMATES; ESTIMATED CAPITAL EXPENDITURES REDUCED BY $1 BILLION ANNUALLY 2014-2017 3/26/2014

ALCOA (AA $11.92, rating raised to Overweight from Neutral, Price Target raised to
$17 from $12) HIGHER ESTIMATED MIDWEST PREMIUMS OVERCOMPENSATE
FOR LOWER ESTIMATED 2014 and 2015 LME ALUMINUM INGOT PRICES
RESULTING IN INCREASED EARNINGS ESTIMATES; ESTIMATED CAPITAL
EXPENDITURES REDUCED BY $1 BILLION ANNUALLY 2014-2017 3/26/14

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