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Allegheny Technologies Inc. Message Board

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  • raybans2 raybans2 Jan 26, 2006 9:00 AM Flag

    You better sell Tie while you can

    I don't worry about this ATI vs TIE. I own both so I don't care which one will do better. But, I believe TIE has more up side than ATI. ATI's lower PE is due to the fact that its earnings are diluted with the slower growth earnings of its other specialty metals. If ATI was an all titanium play they would have a higher PE as well because they would be growing earnings at an accelerated clip.

    ATI has a forward PE of 17 vs. TIE�s forward PE of 20.5. TIE's earnings growth should out pace ATI's earning growth by more than the 20.5/17.0 ratio since they are 100% titanium. I think it�s clear that TIE is on a faster earnings growth trajectory because of the metal mix. This small difference in forward PEs is meaningless considering the large differences in earnings growth potential.

    But, I will not be disappointed in my ATI profits. A little diversification is always good. After all, it�s helped me a lot to own ATI in the last two months.

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