Buckingham analyst Richard Safran maintained a Neutral rating on Allegheny Technologies and lowered his price target to $21 from $27 ahead of the company's Q3 results, reflecting a slower than expected growth outlook. In a research note to investors, Safran says he expects an in-line quarter for Allegheny, which could be a modest positive for the stock given "very low" expectations. Safran says Allegheny remains a "terrific" long-term story with upside to expectations largely from a better pricing environment and share gains, but notes that so far, a successive series of one-time items and lowered expectations have instilled a lack of confidence among investors.