KeyBanc raised the firm's price target on ATI to $175 from $167 and keeps an Overweight rating on the shares. Following the company's Q1 results, discussions with management, and the firm's analysis, KeyBanc is increasing its 2026-2027 estimates on continued margin uplift. The firm believes long-term cyclical growth investors will be attracted to ATI's leverage to aerospace and defense, niche higher-margin exotics alloy portfolio, ongoing margin improvement goals, and discretionary free cash flow to equity utilized toward share buybacks.
