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Fly News Breaks for February 14, 2019
ATI
Feb 14, 2019 | 05:51 EDT
Macquarie analyst Xiao Feng started Allegheny Technologies with an Outperform rating and $34 price target. The company is "riding the wave" of aerospace growth while strategic actions in its Flat Rolled Products segment provides additional earnings power, Xiao tells investors in a research note. The analyst believes Allegheny's targets of high-single-digit revenue growth, 150 basis points operating margin improvements in 2019 and $3B in revenue at 20% margins in 2021 are achievable.
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