Market Overview

UPDATE: J.P. Morgan Color On ATK Target Decrease


J.P. Morgan, which lowered its PT on shares of Alliant Techsystems Inc. (NYSE: ATK), is providing some color on the stock.

“We are reducing our FY12 estimate by $0.15 to $7.85 due largely to a higher net pension expense estimate and a higher share count,” J.P. Morgan writes. “We had previously assumed that ATK would repurchase $150 million of shares in each of FY12 and FY13, but since the company has not moved forward on this front, we now have removed all repurchase activity from our estimates.

“Our FY13 estimate is down $0.70 to $7.30 for the same reasons.”

Alliant Techsystems closed Thursday at $74.25.

Posted-In: alliant techsystems J.P. MorganAnalyst Color Analyst Ratings


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