UPDATE: KeyBanc Upgrades Allegheny Technologies (ATI) to Overweight

(updated to add analyst comment)

KeyBanc upgraded Allegheny Technologies (NYSE: ATI) from Sector Weight to Overweight with a price target of $31.00.

Analyst Philip Gibbs believes the risk/reward offering is more intriguing at current levels and has greater comfort around Flat Rolled margin improvement. The analyst further comments "Visible aero growth in HPMC and improving balance sheet/FCFE momentum offer downside support."

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 $25.61 yesterday.

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