BofA/Merrill Lynch Double Upgrades Allegheny Technologies (ATI) to Buy

September 11, 2017 6:43 AM EDT
Get Alerts ATI Hot Sheet
Price: $20.49 -0.05%

Rating Summary:
    10 Buy, 7 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 27 | New: 42
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BofA/Merrill Lynch upgraded Allegheny Technologies (NYSE: ATI) from Underperform to Buy with a price target of $24.00 (from $16.00).

Analyst Timna Tanners says upcoming catalysts over the coming six months are:

  1. Boeing and Airbus ramp of 737max and A320neo,
  2. expect smarket share gains from ARNC isothermal forge delays,
  3. expected retirement of 40% of the FRP workforce over five years; and
  4. better commodity values boosting FRP’s Q4.

For an analyst ratings summary and ratings history on Allegheny Technologies click here. For more ratings news on Allegheny Technologies click here.

Shares of Allegheny Technologies closed at $20.51 Friday.



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Timna Tanners