$7 after earning by FRIDAY mark it AA is on a loosing streak and it going to be some time before anything start to take shape, first is get rid ALL management as they can do jack for the past couples of years
There you have it, at present the forward pe is more than 26, implying next years earnings of just 30 cents. Now DB says that it is too optimistic. Target price $5,5. I have been trading AA buying at 8.11 selling at 8.15, unfortunately I kept my last position overnight, lost 9 cent before i got out.
From the web page:
Alcoa shares are down some 2 percent Wednesday, following a downgrade at Deutsche Bank to Sell. Analyst Jorge Beristain calculated that aluminum prices will fall between 12 and 13 percent by 2015 in his note to investors, adding that the likely price drop should contract Alcoa’s 2014 and 2015 earnings per share by more than 50 percent from current levels. Beristain went on to write that the aluminum firm’s stock could fall by 32 percent from current levels as he reduced his rating on Alcoa to Sell from Hold and sharply cut his price target on the shares to from $9 to $5.5.