Allegheny Technologies price target raised to $53 from $48 at KeyBanc After meeting with Allegheny's management, KeyBanc reports that the company is seeing evidence of improving demand. The firm expects the company to generate strong free cash flow in 2015 and 2016. It is now more confident in the company's long-term outlook and reiterates a Buy rating.
Allegheny Technologies sees FY15 capex roughly $250M “Our balance sheet remains solid, with cash on hand of $251M at the end of the second quarter 2015 and no borrowings outstanding under our $400M domestic borrowing facility. Total debt to total capitalization of 37.0% at the end of the second quarter 2015 was unchanged from year-end 2014. Including expected payments associated with the HRPF project, we now expect 2015 capital expenditures to be approximately $250M, of which $63M has been spent in the first six months of 2015.”