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Fly News Breaks for May 23, 2016
ATI
May 23, 2016 | 08:16 EDT
As previously reported, BofA/Merrill upgraded Allegheny Technologies two notches to Buy from Underperform and increased its price target to $14 from $10. Analyst Timna Tanners has increased confidence in Allegheny's engine positioning given a solid outlook for aerospace and a more neutral view on nickel prices. Tanners expects next-gen engine content to increase Allegheny's aerospace share and said planned capex cuts make balance sheet concerns look overblown.
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