TD Cowen analyst Gautam Khanna has maintained their bullish stance on ATI stock, giving a Buy rating today.
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Gautam Khanna has given his Buy rating due to a combination of factors that highlight ATI’s strong market position and growth potential. The company has demonstrated robust demand for its engine alloys and forgings, with expectations for a significant increase in jet engine sales. This is supported by a renewed contract with Boeing that offers better pricing and cost protection, despite some challenges in Ti airframe sales.
Additionally, ATI is strategically expanding its capacity, particularly in Ni melt, which is expected to enhance its production capabilities without significantly impacting pricing power. The potential for increased sales through expanded Airbus Ti share and gains with RTX’s Pratt division further solidifies ATI’s growth outlook. These strategic moves and market dynamics underpin Khanna’s confidence in ATI’s future performance.
In another report released today, J.P. Morgan also maintained a Buy rating on the stock with a $92.00 price target.