Alliant Techsystems Inc. (ATK) Upgraded by Zacks to OUTPERFORM

Zacks Investment Research upgraded shares of Alliant Techsystems Inc. (ATK) from NEUTRAL to OUTPERFORM on July 13, 2012, with a target price of $57.00.

We upgrade our recommendation on Alliant Techsystems to Outperform from Neutral taking into consideration its diverse defense product and solution capabilities. Alliant's strong financial position allows it to develop internally and also through acquisitions. The company has also increased its shareholders value through payment of dividend and setting aside an amount for buybacks. The realignment of its business segment will improve operating efficiency and benefit margins. On the flip side, like other defense operators, the future growth prospects of the company are tied to the U.S. defense budget, which is expected to decline in the long run.

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