The Latest Breaking News from Allegheny Technologies Inc

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…

Allegheny Technologies Inc (NYSE:ATI) reported fourth-quarter sales growth of 16.3% year-over-year to $765.4 million, beating the consensus of $728.66 million. High-Performance Materials & Components sales increased 41.1% Y/Y to $313.6 million, reflecting higher sales across nearly all end markets, led by commercial jet engines. Segment EBITDA was $60.7 million, or 19.4% of sales.…