
Allegheny Technologies (ATI) Stock Forecast & Price Target
Allegheny Technologies (ATI) Analyst Ratings
Bulls say
ATI Inc. is positioned for growth due to significant commitments from large customers in the aerospace sector, prompting a 35% enhancement in its aerospace-quality titanium capacity by the end of 2023. The company is experiencing a notable increase in defense sales, which now constitute 62% of total sales and are projected to grow over 15% in 2024, leading to total defense sales exceeding $500 million. Additionally, ATI expects to generate an additional $50 million in titanium revenue annually from heightened operational efficiency, while also benefitting from a rebuild cycle in the aircraft industry and emerging opportunities in the space market.
Bears say
ATI Inc has experienced a modest decline in its Advanced Alloys and Solutions (AA&S) backlog, which could be attributed to Boeing's titanium destocking, raising concerns about future sales momentum as the backlog displayed fluctuations from approximately $2.9 billion at year-end 2022 to around $3.8 billion at year-end 2023. The company is also facing significant risks, including volatility in the aerospace and energy markets, as well as fluctuations in LME nickel and titanium input costs, which could hinder financial performance and overall stock stability. Furthermore, the ongoing need for ATI to ensure fair returns amidst competitive pressures from lower-priced Russian supply adds another layer of concern for potential revenue growth, suggesting caution regarding the company's financial outlook.
This aggregate rating is based on analysts' research of Allegheny Technologies and is not a guaranteed prediction by Public.com or investment advice.
Allegheny Technologies (ATI) Analyst Forecast & Price Prediction
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