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5 Steel Stocks for 2012

2. Allegheny Technologies (ATI - Get Report) is a diversified specialty metals producer.

For the 2011 third quarter, ATI reported sales of $1.35 billion, up 28% from the third quarter previous year. During the quarter, segment operating profit increased 157% and net income stood at $62.3 million, or 56 cents per share.

For fiscal 2011, ATI expects revenue of $5.2 billion.

In December 2011, ATI signed a long-term sourcing agreement with Goodrich Corporation (GR) for the supply of aerospace forgings used in landing gear components.

Of the 14 analysts covering the stock, 71% recommend buying and 21% suggest a hold. The stock's average 12-month price target is $63.20, about 26.4% higher than the current price, a Bloomberg consensus shows.

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ATI $15.44 -0.26%
CRS $33.38 -0.79%
NUE $48.50 -0.47%
MUSA $58.84 1.00%
STLD $24.75 0.41%


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