UPDATE: Dahlman Provides Industry Update, AA and FCX Increase PT

Dahlman released a research report on Alcoa

, Freeport

, Rio Tinto

and BHP Billiton

highlighting its top picks in its most attractive industries. In the report Dahlman writes, “Market volatility has increased significantly of late, due in part to softening global macro economic data and the inability of policymakers in the US and Europe to effectively deal with sovereign debt issues. During such times, we believe it is important to focus on industries and companies that exhibit strong or strengthening fundamentals and secular growth potential.” Dahlman maintains a Buy rating on all its top picks. Alcoa changed its price target to $19 from $22 and closed yesterday at $11.58. Freeport changed its price target to $68 from $72 and closed yesterday at $41.99, Rio Tinto maintains its price target of $115.00 and closed yesterday at $56.44, BHP Billiton maintains its price target of $116.00 and closed yesterday at $77.17.