Alcoa has made a concerted effort in 2010 to heighten its transparency and to communicate more clearly with its institutional investor base. In November, for example, the company convened its first investor meeting since 2006. Beristain appeared to base much of his bullishness on detail provided by Alcoa executives during that meeting. Wall Street has been waiting since early last year for a so-called bullwhip effect to juice Alcoa's profits. Beristain believes the time has finally arrived: His "key take" on the November meeting, he said in his research note Monday, is that Alcoa "has emerged from the crisis reshaped and streamlined" and "is now entering the harvest period for prior capital investments." He noted that Alcoa spent billions of dollars between 2006 and 2009 to expand its production capacity. If Beristain's research allows him to peg a price target on Alcoa shares of $22, we ask readers of TheStreet to handicap the company as well, by answering the question Where will Alcoa trade by the end of 2011? Take our poll below to see what other investors think -- and don't hesitate, of course, to leave a comment that explicates the rightness of your outlook.
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