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Aluminum Demand, New Products Lift Alcoa's Earnings as Stock Eyes $19.50
Edited by : AL CIRCLE
1 min read
Alcoa ( AA ) recently announced its performance for the second quarter of 2011. While the company grew its top-line by more than 11% over the figure in Q1 2011 to reach $6.6 billion, the net income also grew over the period by about 6% to settle at $326 million. Alcoa is the world leader in the production and management of primary aluminum, fabricated aluminum and alumina, and its competitors include Rusal, Rio Tinto ( RIO ), BHP Billiton ( BHP ) and Chalco ( ACH ).
We maintain a $19.50 price estimate for Alcoa , roughly 20% above the stock's market price.
We maintain a $19.50 price estimate for Alcoa , roughly 20% above the stock's market price.
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