Buy RTI International Metals (RTI), Allegheny Tech (ATI) Ahead of ITA Conference, BofA/Merrill Lynch Says

BofA/Merrill Lynch analyst Christopher Brown said 2015 is shaping up to a strong for titanium. The analyst recommended buying Allegheny Technologies (NYSE: ATI) and RTI International Metals (NYSE: RTI) ahead of next week’s International Titanium Association (ITA) conference in Chicago

Brown notes Buy-rated RTI is a titanium pure-play and Buy-rated ATI generates ~15% ofrevenues and even more profits from titanium. He also there should also be read-throughs for Buy-rated Haynes International (NASDAQ: HAYN) and Kaiser Aluminum (NASDAQ: KALU).

The analyst said the most important update will be where Boeing stands in terms of its expected titanium restock. "Since it has been hitting its production targets on the titanium-intensive B787, we believe Boeing will stick to its previous view that it could start restocking in early-2015," the analyst said.

The analyst rates ATI at Buy with a $50 PT, RTI Buy with a $34 PT, HAYN at Buy with a $63 PT, KALU at Buy with a $84 PT

For an analyst ratings summary and ratings history on Allegheny Technologies click here. For more ratings news on Allegheny Technologies click here.

Shares of Allegheny Technologies closed at $42.04 yesterday.

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