Market Overview

UPDATE: Deutsche Bank Upgrades Allegheny Technologies to Buy, Shares Undervalued

Share:
Related ATI
Benzinga's Top Upgrades, Downgrades For January 20, 2017
Mid-Morning Market Update: Markets Mostly Lower; Target Q3 Profit Beats Views
Allegheny Tech downgraded at BofA on narrowbody, nickel headwinds (Seeking Alpha)

Deutsche Bank raises its rating on Allegheny Technologies (NYSE: ATI) from Hold to Buy and maintains its price target at $50.

Deutsche Bank notes, "We are upgrading ATI from Hold to Buy; PT $50 (unchanged). YTD, ATI shares have underperformed specialty & commodity peers (-30%; -15%). We think this ignores positives for end markets and company improvements. Aerospace demand, growth initiatives, product innovation and streamlining should support ATI shares. ATI now trade at 5x 2013e EBITDA ests, essentially in line with commodity peers and below specialty peers (6x) and its historical avg (7x). At current levels, ATI has substantial upside to our PT of $50."

ATI closed at $28.22 on Wednesday.

Latest Ratings for ATI

DateFirmActionFromTo
Jan 2017Bank of AmericaDowngradesBuyUnderperform
Sep 2016Seaport GlobalInitiates Coverage onBuy
Aug 2016Deutsche BankUpgradesHoldBuy

View More Analyst Ratings for ATI
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Upgrades Price Target Pre-Market Outlook Analyst Ratings

 

Related Articles (ATI)

View Comments and Join the Discussion!