Alcoa, Inc. (NYSE:AA): Deutsche Bank attributes Alcoa’s better than expected Q1 results to productivity gains and strong results from the company’s Global Rolled Products segment. However, the firm keeps a Hold rating on the stock with a $10 price target, pointing out its net debt increased 8% to $8B. Citigroup believes investors need to see annualized earnings strength for Alcoa of $1.00 per share or more in order for shares to move beyond the $9-$11 range, which would require an aluminum price of $1.10/lb or more, well above the current spot price of $0.93/lb. Citi keeps a Neutral rating on Alcoa shares with a $10 price target following the company’s profitable quarter.
Scania AB (SCV-A.SK): Scania and the South Korean equipment manufacturer, Doosan Infracore, have agreed to further increase their current cooperation. According to a Letter of Intent, Scania, from 2014, will not only supply engines for Doosan’s articulated dump trucks and large wheel loaders but also other products within the Doosan range. Doosan Infracore is well positioned within the Chinese market. Several models from a total of over 20,000 machines sold annually in China will be powered by Scania engines.
Accretive Health, Inc. (NYSE:AH): Piper Jaffray lowered its earnings estimates and price target for Accretive Health citing lost revenue from the Fairview contract and keeps an Underweight rating on the stock. Piper says the Fairview contract transition drives more concerns in the name.
Bemis Company, Inc. (NYSE:BMS): Citigroup removed Bemis from its Top Picks Live list citing volume pressures and renewed resin cost inflation. However, the firm keeps a Buy rating on the stock with a $36 price target.
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