Alcoa has significant downside risk, says Nomura Nomura sees significant downside risk for Alcoa's 2014 earnings estimates given the fall in LME aluminum prices and GRP margin pressures in Europe. The firm lowered Alcoa's FY14 EPS to 14c from 28c and FY15 to 31c from $1.32 and reiterates its Neutral rating and $8 price target.
Alcoa rallies with Freeport-McMoRan, materials sector Shares are up over 5% to $9.33 at time of writing, putting it above downtrend resistance at the 10-day moving average. At that price next resistance is at $9.51. Support is at $9.19.