UPDATE: Jefferies Reiterates Hold Rating, Raises PT on Alliant Techsystems

In a report published Wednesday, Jefferies reiterated its Hold rating on Alliant Techsystems ATK, and raised its price target from $60.00 to $65.00. Jefferies noted, “ATK's third quarter performance displayed the power of diversity. Sporting Group revenues offset the 18% decline in the Defense Group. EPS of $1.93 were about $0.20 ahead of our estimate of $1.73 as better volume and pricing for commercial ammunition segment dropped through to the bottom line.” Alliant Techsystems closed on Tuesday at $63.55.