Alcan "neutral," estimates reduced

NEW YORK, April 5 - Analysts at Credit Suisse maintain their "neutral" rating on Alcan Inc, while reducing their estimates for the company. The target price is set to $62.

In a research note published this morning, the analysts mention that the Business Group Profit of the company's Bauxite & Alumina segment is expected to improve during the quarter. The aluminum price estimate has been reduced from $1.30/lb to $1.28/lb, the analysts say. The general strike in Guinea and a stronger Australian Dollar are expected to have a modest negative impact on the alumina segment's 1Q operating results, Credit Suisse adds. The EPS estimate for 2007 has been reduced from $5.70 to $5.62.