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Alcoa Stock: Time to Buy Yet?

Friday, 25 Sep 2009 | 11:14 AM ET

Earnings season is a few weeks away and Dow component and economic bellwether Alcoa is already on investors’ radar. David Silver, equity research analyst at Wall Street Strategies, shared his insights on the company.

Spotlight on Alcoa
Earnings season is just a couple weeks away, and that means Alcoa is on investors' radars. David Silver, of Wall Street Strategies, shares his analysis of the stock.

“I don’t think Alcoa’s a buying opportunity yet,” Silver told CNBC. “I don’t think we’ve come far enough fundamentally to justify the movement in the price of stock.”

Silver said Alcoa so far has made a great move over the past 6 months, aluminum prices have soared and the end markets are looking better than they were earlier on in the year.

“Fundamentally, inventories are still extremely high,” he said. “It’s tough to be in an environment with rising prices, rising inventory levels and production that’s relatively flat.”

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Disclosure:

No immediate information was available for Silver or his firm.

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CNBC Slideshows:

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Other Top Metals Companies:

Arcelor Mittal

Freeport-McMoRan Copper & Gold

United States Steel

Nucor

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Disclaimer

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