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Stocks Under $10 with 50-100% upside potential - 14 days FREE!

10 Steel Stocks With Upside

10. Allegheny Technologies (ATI) is a diversified specialty metals producer with products ranging from alloys and product forms. The company's focus is on its technological and unsurpassed manufacturing capabilities to serve the global end-use markets with diversified and specialized product offerings.

For 2010, the company reported 33% increase in total sales to $4.05 billion. Net income increased to $70.7 million, or 72 cents per share, compared to $31.7 million, or 32 cents per share. The company recently went ex-dividend as per which shareholders will be eligible for a dividend of 18 cents per share.

For 2011, the company estimates revenue growth of 15% to 20% as compared to 2010 levels. Meanwhile, by segment, operating profit is pegged at 15% of sales compared to 8.8% recorded in 2010. The company's chairman and CEO added that ATI is likely to benefit from the ongoing market and product development activities through which they seek to launch innovative new ATI alloys. ATI estimates 2011 total titanium shipments to increase by approximately 30% to 50 million pounds. Capital expenditure for the year is forecasted at $300 to $350 million.

Of the 10 analysts covering the stock, 60% recommend a buy while 20% rate a hold on it. Analysts polled by Bloomberg envisage an average 12-month price target of $70.1 - about 7% higher than the stock's current price.

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