As reported earlier, BofA/Merrill analyst Timna Tanners upgraded Allegheny Technologies to Buy from Neutral and kept her $32 price target. Tanners believes that the recent weakness in the stock price presents an attractive entry opportunity given the company's expected benefits from the jet engine new technology cycle. The analyst further states that the recent sell-off may have been driven by concerns over the impact of U.S. steel tariffs on its sourcing relationship with China's Tsingshan, adding that in yesterday's discussion, the management has expressed confidence in receiving an exception to any slab tariff.