Alcoa (AA) is downgraded to Hold from Buy at Jefferies: "We have said for some time that if/when...

|By:, SA News Editor

Alcoa (AA) is downgraded to Hold from Buy at Jefferies: "We have said for some time that if/when Alcoa shares got an upside bump, we would be inclined to downgrade the stock. It did. We are downgrading. Within base metals, we strongly prefer the shares of Freeport-McMoran (FCX)." AA -0.6%, FCX -0.9% premarket.