- JPMorgan analyst Seth Seifman upgraded Allegheny Technologies Inc ATI to Overweight from Neutral and lowered the price target to $23, from $25, representing an upside of 32%.
- In the near term, Allegheny should see profitable High Performance Materials & Components segment growth on its narrow-body engine exposure, Seifman notes.
- The analyst says that if end markets "cooperate" and Allegheny executes well in 2022 and 2023, he could envision a $30 stock.
- Seifman views the stock's risk/reward as "compelling" at current share levels.
- Price Action: ATI shares traded higher by 2.28% at $17.49 on the last check Friday.
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