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 (831)	10/10/2001 5:54:37 PM
From: craig crawford	Read Replies (1) of 1643

RESEARCH ALERT-Prudential cuts Alcan to "sell" biz.yahoo.com Monday October 8, 3:11 pm Eastern Time NEW YORK, Oct 8 (Reuters) -- Prudential Securities said Monday it has cut its rating on Alcan Inc. (Toronto:AL.TO - news) (NYSE:AL - news) to ``sell'' from ``hold'' because of weaker-than-expected aluminum commodity prices and misguided capital investments. Analyst John C. Tumazos said Alcan's new chief executive officer and chief financial officer ``have not introduced new or revised existing action plans.'' As a result, he said, Alcan may miss a $3 billion cash flow target for 2002 by 50 percent. Tumazos cut his target price for Alcan shares to $24 from $30.

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