BTIG analyst Andre Madrid reiterated a Buy rating on ATI (ATI – Research Report) yesterday and set a price target of $80.00.
Andre Madrid has given his Buy rating due to a combination of factors surrounding ATI’s recent developments. Despite the failure to ratify a labor agreement with the United Steelworkers (USW) for employees in Western PA and Lockport, NY, the company has shown progress by extending the expired agreement and planning further negotiations. This indicates a commitment to resolving labor issues without significant disruptions.
Additionally, ATI successfully reached a long-term agreement with USW for its Specialty Alloys and Components employees in Albany, OR, which extends until 2031. This agreement provides stability and competitive benefits, reflecting positively on ATI’s operational outlook. The constructive nature of ongoing negotiations and the absence of immediate work stoppages further support the Buy rating, as they suggest a manageable risk environment for the company.
Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ATI in relation to earlier this year.
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