Alcoa shares could rise 30 percent in 2012: report
(Reuters) - Alcoa Inc (AA.N: Quote) shares could rise by as much as 30 percent in 2012 as weak aluminum prices may have bottomed while demand for the metal remains strong, financial weekly Barron's reported on Sunday.
The paper said Alcoa's fourth-quarter results, due to be released after-the-bell on Monday, are not going to be pretty, saying it could post a "slight operating loss" due to the 20 percent drop in aluminum prices during the second half of 2011.
Alcoa, the word's second-biggest aluminum company, will benefit from being diversified with products from beverage cans and aeroplanes parts to casings for iPad tablets, the paper said.
With a tangible book value of $8 a share, the shares could go as high as $13 according to Morgan Stanley analyst Paretosh Misra, Barron's reported.
Alcoa shares closed at $9.16 on Friday.
(Reporting By Yinka Adegoke; Editing by Leslie Adler)
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