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Berenberg Bank Believes Allegheny Technologies (ATI) Still Has Room to Grow

Berenberg Bank analyst Paretosh Misra maintained a Buy rating on Allegheny Technologies (ATIResearch Report) on March 10 and set a price target of $32.00. The company’s shares closed last Friday at $26.50, close to its 52-week high of $28.40.

According to TipRanks.com, Misra ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -7.0% and a 36.6% success rate. Misra covers the Basic Materials sector, focusing on stocks such as Rayonier Advanced Materials, HB Fuller, and Ingevity.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Allegheny Technologies with a $28.86 average price target.

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Allegheny Technologies’ market cap is currently $3.38B and has a P/E ratio of -78.33.

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Allegheny Technologies, Inc. engages in the manufacture of specialty materials and components for different industries which include aerospace and defense, oil and gas, chemical process, and electrical energy. It operates through the High Performance Materials and Components (HPMC) and Flat Rolled Products (FRP) segments. The HPMC segment includes production, conversion, and distribution of materials, including products from differentiated alloys, super alloys, and metallic powders. The FRP segment involves in the production, conversion and distribution of nickel-based alloys, specialty alloys, titanium and titanium-based alloys, and stainless steel in a variety of product forms including plate, sheet, engineered strip, and precision rolled strip. The company was founded on August 15, 1996 and is headquartered in Pittsburgh, PA.

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