JPMorgan, Alcoa: Dow Midday Movers

NEW YORK ( TheStreet) -- Stocks were rising midday Friday after a better-than-expected February employment report.

The Dow Jones Industrial Average rose 42.16 points to 12,950.10. Leading the Dow higher Friday were JPMorgan Chase ( JPM) and Alcoa ( AA).

Shares of JPMorgan rose 2.15% to $41.31. Guggenheim Securities analyst initiated coverage of the bank with a price target of $50, about 24% higher than the stock's closing price on Thursday of $40.44.

TheStreet Ratings gives JPMorgan a B grade with a buy rating and a $46.63 price target.

Alcoa shares rose 1.64% to $9.93. The aluminum company is getting interest in its aluminum smelter in Sardinia, Italy from Glencore, Hammerer Aluminum Industries and Klesch, according to Reuters.

Alcoa gets a C grade from TheStreet Ratings and a hold rating.

The biggest decliner in the index midday was PC maker Hewlett-Packard ( HPQ). Shares decreased 1.1% to $24.37.

Gartner forecasts that PC shipments will grow 4.4% worldwide in 2012, after a slight decline last year,, as consumers embrace tablets, like Apple's iPad, as opposed to PCs.

TheStreet Ratings gives HP a C+ grade and hold rating.

-- Written by Alexandra Zendrian

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