KeyBanc Capital Markets has upgraded Allegheny Technologies Incorporated (ATI, Financial) from Sector Weight to Overweight, assigning a price target of $55. This decision comes after a notable selloff in ATI shares that began in early February. The firm sees potential value making a comeback in the stock, encouraging the upgrade.
The current earnings guidance for ATI remains steady, with projections set between $2.80 and $3.00 per share. KeyBanc suggests that ATI's strategic positioning could lead to an increase in its defense sector engagements in the coming years, particularly for 2024-2025. The company is expected to capture new contracts and applications that bolster its business outlook.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 10 analysts, the average target price for ATI Inc (ATI, Financial) is $70.70 with a high estimate of $81.00 and a low estimate of $55.00. The average target implies an upside of 55.01% from the current price of $45.61. More detailed estimate data can be found on the ATI Inc (ATI) Forecast page.
Based on the consensus recommendation from 12 brokerage firms, ATI Inc's (ATI, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for ATI Inc (ATI, Financial) in one year is $53.72, suggesting a upside of 17.78% from the current price of $45.61. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the ATI Inc (ATI) Summary page.
