ALCOA (AA $8.39, rating NEUTRAL; PRICE TARGET RAISED FROM $10 to $13) LARGE PROFIT BENEFIT FROM “ARBITRAGE” BETWEEN QUALITY PREMIUMS, MIDWEST PREMIUMS, AND INPUTS LIKE UBC SCRAP DISCOUNTS; ANALYSIS OF INDIVIDUAL BUSINESS SEGMENT VALUES 11/9/2012
ALCOA (AA $8.39, rating NEUTRAL; PRICE TARGET RAISED FROM $10 to $13)
LARGE PROFIT BENEFIT FROM “ARBITRAGE” BETWEEN QUALITY
PREMIUMS, MIDWEST PREMIUMS, AND INPUTS LIKE UBC SCRAP
DISCOUNTS; ANALYSIS OF INDIVIDUAL BUSINESS SEGMENT VALUES 11/9/2012