Citi Raises Estimates On Alcoa

According to Citi, Alcoa (NYSE: AA) estimates are raised for 1Q beat.

Citi reported that after incorporating 1Q results and guidance, it is raising its 2011 estimate slightly to $1.27 from $1.24, maintaining estimates for 2012-13 at $1.35. “Our aluminum price forecasts are $1.17/lb, $1.19/lb, and $1.18/lb for 2011-13.”

Alcoa closed yesterday at $17.77.