Commodities - The Coming Bull Market Message Board

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Strategies & Market Trends : Commodities - The Coming Bull Market

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To: craig crawford who wrote (770)	9/5/2001 3:51:09 AM
From: craig crawford	Read Replies (1) of 1643

RESEARCH ALERT-Goldman cuts Alcan, Alcoa estimates biz.yahoo.com Tuesday September 4, 12:00 pm Eastern Time NEW YORK, Sept 4 (Reuters) - Goldman Sachs said on Tuesday metals analyst Alberto Arias lowered 2001 and 2002 earnings estimates for Alcoa (NYSE:AA - news) and Alcan (Toronto:AL.TO - news), citing new, lower expectations for aluminum prices due to a weaker aluminum demand outlook and rising aluminum inventories. ``We now expect aluminum prices to average 67 U.S. cents per pound in 2001 vs. our previous estimate of 69 cents, and 70 cents per pound in 2002 vs. our previous forecast 74 cents.'' The analyst is maintaining his investment ratings on the two largest aluminum producers -- Alcoa, recommended list; Alcan, market outperformer -- due to earning growth expected in 2002 driven by cost reductions and improving returns on capital employed. Arias lowered his 2001 earnings per share estimate for Alcoa to $1.79 from $2.00 and his 2002 estimate to $2.55 from $2.76. His Alcan per share estimates were lowered to $1.70 from $1.98 for this year and to $3.13 from $3.80 for next year.

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