KeyBanc raised the firm’s price target on ATI to $67 from $66 and keeps an Overweight rating on the shares following Q2 results, discussion with management, and its analysis. KeyBanc believes long-term cyclical growth investors will be attracted to ATI’s leverage to commercial aerospace and defense recovery, enhanced by new capacity/capabilities, a leaner, more profitable AA&S segment, and emerging FCFE potential.
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