- Cowen analyst Gautam Khanna upgraded Allegheny Technologies Inc ATI to Outperform from Market Perform and raised the price target to $23 (an upside of 19%) from $22.
- Khanna states that the Aerospace production "should see better days" in 2022 as de-stocking is over, A320/737Max rate hikes will occur, 787 deliveries should resume in the first half of the year, and travel passengers adapt to an endemic COVID world.
- The analyst believes these dynamics should drive a "much better" 2022 for Allegheny's "high margin, HPMC segment."
- Recently, Berenberg upgraded Allegheny to Buy from Hold.
- Price Action: ATI shares are trading higher by 5.23% at $19.33 on the last check Tuesday.
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