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Paul Harris, CFAAlcan AluminumAL.TOBUYApr 22, 2005

It's not only a smelting company, but also a packaging company. On the smelting side, they're in a very good position because most of their electricity has been hedged. The issue is their packaging side and whether they can make that a higher margin business. Have a large amount of good will on the books, so expect they will have to take a write-down. At a good level now, but be prepared to hold.

Paul Harris, CFA

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$42.25

Stock price when the opinion was issued

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PAST TOP PICK

(A Top Pick Feb 15/07. Up 52%.) Chose it because it was a takeover target. It was acquired last fall.

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(Top pick Nov 14/06. Up 80%)

TRADE

There is a takeover bid in play. (caller asked how) To sell your shares, you can tender your shares, (call your broker), or sell on the market. Recommends tendering.

PAST TOP PICK

(Past Top Pick Oct 18/06. Up 115%.) Being acquired and trading very close to the takeover price, so he sold his holdings.

HOLD

If you're a short term trader, you've made an excellent return, take some profits. If you are a long term investor, hold.

COMMENT

Has been a long term favorite of hers. Has just had a big pop, and they sold some.Expects the company to go higher.They've maintained a conservative balance sheet.

HOLD

Early on in the process of a bidding war. If you own, continue to hold. Main risk is a Pac Man defence where Alcan tries to buy Alcoa (AA-N). You might lock in a bit of profit at this point.

PAST TOP PICK

(A Top Pick June 19/06. Up 92.5%.) Take some of your money off the table.

SELL

Stock had a good top because of the offer from Alcoa (AA-N). Whatever happens to the price of aluminum in the near term will not be based on fundamentals. A lot of variables are going on, so there is no assurance the stock will go higher. If you own, take some partial profits.

BUY

In the case ALcan and BCE there are various parties who are interested, and there isn't much downside. Could go a fair bit higher, if other players come in.

BUY

Alcoa (AA-N) is trying to acquire them. Feels the whole aluminum industry is going to turn out quite well. Lower operating costs.

PAST TOP PICK

(A Top Pick May 23/06. Up 23.2%.) Long-term there is a great demand for aluminum. Could be a takeover candidate.

BUY

You always want to trade Alcan. This is a hard one to “buy and hold”. His model price is $73.14. That's an 18% positive differential.

DON'T BUY

Getting closer to the end of the cycle in commodities. Would be a little cautious on aluminum. Some speculation on consolidations, but doesn't expect there will be a lot more money made on this stock.

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We paraphrase the experts by hand, we watch the shows and write down what we understood from the experts’ comments. We are human and can make mistakes, help us fix any errors. If you see something that you know is not right or if there is a problem with the site, feel free to email us at : [email protected].

Summer Sale

Paul Harris, CFAAlcan AluminumAL.TOBUYApr 22, 2005

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