UPDATE: Cowen Downgrades Allegheny Technologies (ATI) to Market Perform

August 13, 2020 5:36 AM EDT
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Price: $19.64 -0.56%

Rating Summary:
    10 Buy, 7 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 22 | Down: 13 | New: 29
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(Updated - August 13, 2020 6:48 AM EDT)

(updated to add analyst comments)

Cowen analyst Gautam Khanna downgraded Allegheny Technologies (NYSE: ATI) from Outperform to Market Perform, price target $11.00.

The analyst commented, "We are downgrading our rating on ATI's stock to Market Perform from Outperform, with an unchanged $11 PT. ATI faces an extended de-stock from excessive downstream aero Ti inventory, & incrementally, pricing pressure will intensify from challenged competitors in "spot" markets. These factors are apt to keep a lid on the stock."

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 $9.32 yesterday.

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