Citi Raises Estimates On Alcoa

According to Citi, Alcoa AA estimates are raised for 1Q beat. Citi reported that after incorporating 1Q results and guidance, it is raising its 2011 estimate slightly to $1.27 from $1.24, maintaining estimates for 2012-13 at $1.35. “Our aluminum price forecasts are $1.17/lb, $1.19/lb, and $1.18/lb for 2011-13.” Alcoa closed yesterday at $17.77.