STOCKS NEWS US-Barclays slashes price target on Alcoa by 40 pct

Barclays Wednesday cut its price target on aluminum company Alcoa Inc (AA.N) by 40 percent, dropping it to $12 from $20. "With commodity prices low and downstream end markets continuing to rapidly deteriorate, it seems highly probable that results and, more importantly, the outlook provided will be fairly gloomy," the firm wrote, adding that it expected 2009 consensus estimates on the...