Alcoa (NYSE:AA) Upgraded by HSBC Securities

HSBC Securities upgraded Alcoa (NYSE:AA) from "Underweight" to "Neutral," giving some seemingly positive news to the aluminum industry in general.

More than likely this comes on the heels of the announcement Alcoa has landed a deal worth $11 billion to help Saudi Arabia develop the aluminum sector.

There was also news Alcoa landed a contract with Chevrolet Wheels, although obviously much smaller than the Saudi Arabia contract.

Together it should give Alcoa additional long-term growth which should boost the value of the company and share price. When aluminum prices rise again it will position them for a strong push.