KeyBanc Upgrades Haynes International (HAYN) to Buy; Strong Backlog

July 9, 2012 7:15 AM EDT
Get Alerts HAYN Hot Sheet
Price: $42.17 --0%

Rating Summary:
    2 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 6 | Down: 3 | New: 2
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KeyBanc upgraded Haynes International (NASDAQ: HAYN) from Hold to Buy with a price target of $62.00.

KeyBanc analyst said, "Our positive view is supported by the continuation of solid backlog levels (remain above peak 3Q08 levels), progress with mix/margin enhancement, industry-leading ROIC, a net cash position, and recent low-risk high-return capital projects. HAYN, along with Kaiser Aluminum Corporation (Nasdaq: KALU)(BUY; $63 price target), are among our highest conviction small cap growth long ideas."

For an analyst ratings summary and ratings history on Haynes International click here. For more ratings news on Haynes International click here.

Shares of Haynes International closed at $50.59 yesterday.

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