Alcoa Upgraded To Buy By Deutsche Bank

Deutsche Bank has published a research report on Alcoa, Inc. AA and has upgraded the company to Buy from Hold. In the report, Deutsche Bank writes "We are upgrading Alcoa to Buy from Hold and raise our 12-month PT by ~60% from $14 to $22/share to reflect growing optimism on both aluminum's likelihood of higher prices and a belief that Alcoa has turned the corner from an operational point of view, which could spark a revaluation of its shares. Alcoa's laggard status has piqued investor interest in the name as a possible come-back play for 2011 and given signs of operational stability, we don't disagree." Deutsche Bank has also raised the price target from $14 to $22. Alcoa, Inc. closed Friday at $15.39.