KeyBanc Downgrades Alliant Techsystems (ATK) to Hold; Our Defense Budget Fears Get the Best of Us

KeyBanc downgraded Alliant Techsystems (NYSE: ATK)from Buy to Hold.

KeyBanc analyst said, "We are downgrading shares of ATK as we view the pending release of the FY13 U.S. Defense budget as a negative near-term catalyst that, when coupled with increasing competition, lower funding levels, troop drawdowns and force structure cuts (i.e., reductions to Army personnel), has the potential to pressure future period revenue and earnings."

Slightly lowers FY12 to $8.75/4.59bln from $8.78/4.61bln and FY13 to $7.95/4.48bln from $8.40/4.59bln.

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 $61.30 yesterday.

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