S&P 500$3829.34-96.09-2.45%

IO$165.02+0.49+0.3%

NI$18600-292.5-1.55%

HRC$1260-3-0.24%

SS$41800%

CB$5195300%

AL$2197.75-20.5-0.92%

Top Aerospace Movers Up

  • lha€12.38+0.31+2.57%
  • af€5.63+0.12+2.18%
  • rr£112.49+0.44+0.39%

Top Aerospace Movers Down

  • ba$216.45-12.89-5.62%
  • ual$51.78-3.18-5.79%
  • hwm$28.35-1.79-5.94%
  • cw$112.38-7.34-6.13%
  • air$39.95-2.82-6.59%

Top Metals/Materials Up

  • io$165.02+0.49+0.3%
  • ng$2.76+0.002+0.07%

Top Metals/Materials Down

  • ggb$4.69-0.32-6.39%
  • x$17.59-1.72-8.91%
  • tmst$7.69-0.76-8.99%
  • clf$14.41-2.49-14.73%
  • ryi$13.17-3.36-20.33%

Companies Under Coverage:

Allegheny Technologies (ATI)
Chris D. Olin

Specialty Materials: Increasing Estimates On The Premium Alloy Suppliers Levered To Jet Engine

Positive data points and contact commentary collected during quarterly checks on the specialty materials group serves as the key catalyst behind the upward estimate revisions we applied to certain names within our coverage universe. Today, we raised estimates on Allegheny Tech (ATI) and Haynes International (HAYN) to reflect the upward bias associated with enhanced aerospace and turbine sales exposure. Continue reading

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Allegheny Technologies (ATI)
Chris D. Olin

Allegheny Technologies (ATI): Upgrading The Shares To A Hold As GE Provides Early Jet Engine Supplier Optimism

We are upgrading the shares of Allegheny Technologies (ATI) to a HOLD. After speaking with industry contacts and reviewing aerospace OEM production schedules, we believe earnings estimates are more likely to move higher from the current point. Despite our concerns regarding the extended valuation, we decided to move to a neutral position on the shares as we can no longer identify a “smoking gun” that could push the stock price meaningfully lower. Continue reading

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