Goldman Sachs Upgrades Alliant Techsystems (ATK) to Buy; Headwinds in Rear View Mirror, Acqusition Target

November 9, 2012 7:51 AM EST Send to a Friend
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Price: $126.00 --0%

Rating Summary:
    5 Buy, 11 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Goldman Sachs upgraded Alliant Techsystems (NYSE: ATK) from Neutral to Buy with a price target of $72.00 (from $60.00), suggesting 26% upside.

The firm notes shares have been under pressure for years on multiple headwinds including the Ares 1 cancellation, Radford loss, Lake City re-compete and general Defense spending pressure. Theses headwinds are now in the rear view mirror, the firm said. In addition, defense expectations have been reset, the company's commercial businesses have upside surprise potential, valuation is very compelling and it is an acquisition candidate.

Goldman raised FY2014/2015E to $7.20/7.75 from $7.05/$7.45 to better reflect civil ammunition leading indicators.

For an analyst ratings summary and ratings history on Alliant Techsystems click here. For more ratings news on Alliant Techsystems click here.

Shares of Alliant Techsystems closed at $57.08 yesterday.




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