ATY:Sell-Off «OVERDONE» MERRILL LYNCH...Blackmont Capital analyst Bruce Krugel noted on Monday that ATI's shares have fallen 17.3 per cent since the start of February. He said the recent selloff is overdone, and that new products will provide traction. He has a “buy” recommendation on ATI stock and a $21 stock target price.
Likewise, Merrill Lynch's Sidney Ho sees the ATI stock weakness makes it a good time to buy. “Our thesis is based on our belief that ATI's market share in the desktop graphics processing unit market has bottomed, and that the company should recover market share more meaningfully.”
Analysts are divided over ATI's merits as an investment. Twenty-two analysts who follow the company have a “buy” recommendation on the stock, compared with 10 who rate it a “hold” and three a “sell,” according to Bloomberg data.