UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on Alliant Techsystems
In a report published Friday, Jefferies & Company reiterated its Hold rating on Alliant Techsystems (NYSE: ATK), and raised its price target from $56.00 to $60.00.
Jefferies noted, “ATK's second quarter results showed promise, with Lake City volumes and Security & Sporting margins driving EPS of $2.00 vs. our estimate of $1.56. Although the trends are encouraging, we expect continued headwinds from declining demand for military ammunition and pressure on NASA volumes to keep shares range bound. We rate ATK shares a HOLD.”
Alliant Techsystems closed on Thursday at $58.79.
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Tags: Jefferies & Company