Deutsche Bank Previews AA 1Q11

Deutsche Bank expects Alcoa, Inc. AA to report 1Q11 diluted EPS of $0.28 (+35% QoQ; +178% YoY), “predicated on higher sequential volumes and prices for Primary metals, Alumina and Flat-rolled products, which are partially offset by higher costs. Barring any one-off charges, Alcoa's results should demonstrate leverage to rising aluminum prices.” “Our EPS estimate is 1c higher than Bloomberg consensus estimate of $0.27 (up 1c over past week),” Deutsche Bank writes. Alcoa closed Wednesday at $18.13.