UPDATE: Stifel Reiterates On Alcoa Inc On Raised 3Q14 EPS Estimates

In a report published Thursday, Stifel analyst Paul Massoud reiterated a Buy rating on

, and raised the price target from $17.00 to $20.00. In the report, Stifel noted, “We are raising our 3Q14 EPS estimate from $0.20 to $0.24 (vs. the Street consensus of $0.20), reflecting higher expected aluminum price realizations. We are also raising our target price from $17 to $20 on higher price assumptions in 2015. Alcoa plans to report 3Q14 earnings on October 8 after the market close and host a conference call that day at 5PM ET to discuss the results.” Alcoa Inc closed on Wednesday at $15.90.