Goldman Sachs Downgrades Allegheny Technologies (ATI) to Neutral; Cuts PT/Est.
Goldman Sachs downgraded Allegheny Technologies (NYSE: ATI) from Buy to Neutral with a price target of $30.00 (from $35.00).
The firm cited lower stainless steel sales volume and margins and somewhat slower titanium demand growth.
The firm cut FY13 EPS estimates from $2.00 to $1.50 and FY14 from $3.00 to $2.50.
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 $30.85 yesterday, with a 52 week range of $25.35-$50.96.
The firm cited lower stainless steel sales volume and margins and somewhat slower titanium demand growth.
The firm cut FY13 EPS estimates from $2.00 to $1.50 and FY14 from $3.00 to $2.50.
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 $30.85 yesterday, with a 52 week range of $25.35-$50.96.