Alcoa soars to 52-week highs as more analysts praise strong Q2

|By:, SA News Editor

More analysts weigh in with praise for Alcoa's (AA +5.4%) Q2 earnings beat.

Sterne Agee maintains its Buy rating and $18 price target, as Alcoa is executing on the fundamental themes, and the pace of activity across the board for aerospace, automotive and cost containment is picking up.

Argus raises its price target to $18 from $15, seeing the focus on higher margin products as an appropriate strategy for Alcoa, which continues to face risks from excess global smelting capacity; the firm also believes AA could eventually spin off its commodity alumina and aluminum businesses (

RBC is more cautious on the sustainability of the strong power sales in the quarter, as it maintains its Sector Perform rating and $16 price target.

Earlier: Alcoa up after strong Q2 results, optimistic outlook