NEW YORK ( TheStreet) -- Even though aluminum prices have strengthened sharply since 2009, Alcoa (AA - Get Report) has been unable to take full advantage, according to an analyst at Deutsche Bank, which downgraded shares of the aluminum smelter and recycler ahead of the company's first-quarter earnings report next week.Jorge Beristain, the firm's metals and mining analyst, cut his rating on Alcoa shares to hold from buy and his price target to $18 from $25. He also trimmed his 2010 per-share earnings forecast to 64 cents from $1.02. The consensus among Wall Street analysts for Alcoa's 2010 profit stands at 83 cents a share, according to a survey of the sell side by Thomson Reuters.
Alcoa Can't Exploit Metals Prices: Analyst
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