ATI downgraded to Sector Weight from Overweight at KeyBanc

KeyBanc downgraded ATI (ATI) to Sector Weight from Overweight as part of a broader research note on the Aerospace sector. The firm notes slowing order rates and the onset of inventory accumulation following “nearly unabated” positive momentum over the last three years. Given the incremental uncertainty and volatility in aircraft production and engine delivery rates, it is prudent to reduce near-term earnings estimates, the analyst tells investors in a research note.