FBR Capital Downgrades Alliant Techsystems (ATK) to Market Perform on Valuation

January 25, 2013 8:31 AM EST Send to a Friend
Get Alerts ATK Hot Sheet
Price: $113.94 +0.37%

Rating Summary:
    4 Buy, 12 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
Trade ATK Now!
Join SI Premium – FREE
FBR Capital downgraded Alliant Techsystems (NYSE: ATK) from Outperform to Market Perform with a price target of $70.00.

The firm cited valuation with the stock just 4% from their price target.

The analyst comments, "This is a tough call to make since ATK is still not expensive, and we maintain our thesis that the company has several strategic options. From a share price perspective, however, the stock has done what we expected when we upgraded the name in October 2012, so the risk/reward profile is not as attractive now for new money, in our opinion. To be sure, we still think consensus estimates for FY14 (starting in March 2013) will prove to be conservative, but we believe that part of our thesis is now factored into the name. As a result, we will look for a more attractive point to reenter the name."

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 $67.18 yesterday.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories


Add Your Comment