ATI's 3Q Pre-Announcement

Deutsche Bank has published a research report on Allegheny Technologies

in anticipation of 3Q earnings results. In the research report, Deutsche Bank writes "ATI disclosed that its operating results were in-line with its prior expectation but a higher LIFO inventory (nickel) charge negatively impacted results. However, operating performance was still modestly below our forecasts. We continue to find ATI's end-markets & l-t growth potential attractive, but visibility remains limited within some ATI businesses and we do not find ATI's valuation attractive." Deutsche Bank maintains its Hold rating and $45 price target. Allegheny Technologies closed Friday at $47.91.