This report is an updated version of the report published on December 22, 2025 at 05:00 EST 

ATI Inc.

Recommendation Rationale – Sell at USD 113.28 

• ATI stated that HPMC's Q3 FY 2025 sales witnessed a fall of $5.9 Mn, or 1% as compared to Q2 FY 2025. This was mainly because of the forging contract renewal which changed from materials purchase structure to a conversion services structure, reducing Q3 revenue by $10 Mn.
• The company is exposed to the risks related to material adverse changes in economic or industry conditions generally. These include global supply and demand conditions as well as prices for its specialty materials.
• Also, ATI is exposed to the challenges related to volatility in price and availability of the raw materials which are important for manufacturing its products.
• ATI’s share price surpassed its R1 level recommended on November 19, 2025. Therefore, there can be a possible decline from the specified resistance levels.

ATI’s Daily Price Chart

Fundamental Valuation

Considering the increasing volatility over global equity market, inflationary pressures, geopolitical tensions, etc. the company’s stock might trade at slight discount. For the valuation, peers such as Carpenter Technology Corp (NYSE: CRS), Northrop Grumman Corp (NYSE: NOC), etc.  

Given its current trading levels, and risks associated, it is prudent to book profit at the current levels.

Hence, a ‘Sell’ rating has been provided on the stock at the closing price of USD 113.28 per share, up by 3.21% as on 19 December 2025.  

ATI Inc. (NYSE: ATI) is part of Kalkine’s Global Big Money Report. 

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical issues prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing. 

Note 1: Past performance is neither an indicator nor a guarantee of future performance. 

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 19 December 2025. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above. 

Note 4: Kalkine reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 25-30 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice. 

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and downtrend may take a pause backed by demand or buying interest.  

Resistance: A level at which the stock prices tend to find resistance when they are rising, and uptrend may take a pause due to profit booking or selling interest. 

Stop-loss: In general, it is a level to protect further losses in case of any unfavourable movement in the stock prices.