We also lower our full year 2013 estimate to $0.35 from $0.42. We maintain our 6-mo P/E-, EV/EBITDA- and DCF-based target price at $8 and rate Alcoa as Neutral. Alcoa Implications The aluminum price has continued to disappoint and see further downside risk. We believe that Alcoa Inc (NYSE:AA) will need to accelerate its plans to idle 460K tons of high-cost smelting capacity announced recently, despite the political, labor, and environmental pressures that may arise from plant closures.