Jefferies Downgrades Alliant Techsystems (ATK) to Hold, Lacks Near-Term Catalysts

Jefferies downgraded Alliant Techsystems (NYSE: ATK) from Buy to Hold with a price target of $56.00 (from $65.00).

The firm comments, "Our prior rating was based on catalysts related to the Space Launch System, cash deployment, and key contract wins to drive performance in a difficult operating environment. Several of these events have passed. We appreciate the long-term strategy but believe the shares may mark time near-term."

FY13 EPS goes down from $7.65 to $7.10.

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 $50.11 yesterday.

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