Allegheny Technologies upgraded to Outperform from Neutral at Credit Suisse Credit Suisse upgraded Alleghany due to recent share weakness, limited downside, improved liquidity, and upcoming positive free cash flow. Price target raised to $41 from $34.
Allegheny Technologies comments on cost reduction program The company says, "Cost reduction remains a strategic focus and we have targeted a minimum of $100M in new gross cost reductions for 2015. Our operations achieved $25M in gross cost reductions during the first quarter 2015. These cost reductions will benefit ATI operations over the rest of 2015."