- JPMorgan analyst Seth Seifman raised the price target on Allegheny Technologies Inc (NYSE:ATI) to $26 (an upside of 15.7%) from $23 and reiterated an Overweight rating on the shares post the Q4 results.
- Seifman mentions Allegheny's operational results surprised to the upside, with HPMC margins exceeding pre-COVID levels.
- Related: Allegheny Stock Surges As Q4 Results Top Street View; Plans $150M Buyback
- The analyst says the company continues its exit from its lower margin stainless business while the pension liability shrinks, supporting out-year free cash flow.
- Price Action: ATI shares traded higher by 0.04% at $22.47 during the premarket session on Friday.
Get all your news in one place.
100’s of premium titles.
One app.
Start reading
One app.
Get all your news in one place.
100’s of premium titles. One news app.
JPMorgan Bumps Up Allegheny Price Target Post Q4 Results
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member?
Sign in here
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Our Picks