Goldman Sachs Raises Allegheny Technologies PT To $65, Maintains Neutral Rating (ATI)

Goldman Sachs maintained its Allegheny Technologies ATI Neutral rating and raised Allegheny Technology's price target to $65 from $61 in a research report published today. In the report, Goldman Sachs states, "Although we have no qualms about its HPM division, commodity stainless is a different story. Earnings in this division could be very choppy and demand is still weak. In addition, there is new capacity being introduced by ThyssenKrupp which would further increase competitive pressure. We thus believe that there is some downside risk if the company is not able to fully execute its 2011 guidance." Shares of Allegheny were at $65.03 at the time of posting in pre-market trading, down 0.40% from Wednesday's market close.