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RTI International Metals (NYSE:RTI) was upgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued on Friday, TheFlyOnTheWall.com reports. The firm currently has a $34.00 target price on the stock, up from their previous target price of $32.00. JPMorgan Chase & Co.’s target price indicates a potential upside of 39.86% from the stock’s previous close.

The analysts wrote, “We are upgrading shares of RTI to Overweight from Neutral based on a combination of increasingly attractive valuation and an approaching inflection point in titanium mill product demand from RTI’s primary customer, Airbus. “Shares of RTI are down 29% year to date, significantly underperforming other specialty and aerospace metal suppliers and all but a few miners under coverage. We remained cautious on the stock as recently as May 7, post 1Q14 earnings, but the stock’s subsequent 12% slide to nearly a 52-week low provides an attractive entry point. RTI commands a unique and increasingly valuable position as the sole North American supplier of titanium mill products for Airbus with an estimated 30-35% market share. “Based on forecasts from J.P. Morgan’s Aerospace & Defense team as well as recent commentary and test flight results from Airbus, we expect higher A350 XWB build rates will help drive RTI’s 2015 earnings ahead of expectations; our updated estimates are 19% higher than consensus.”

Shares of RTI International Metals (NYSE:RTI) opened at 24.31 on Friday. RTI International Metals has a one year low of $23.99 and a one year high of $36.09. The stock’s 50-day moving average is $26.83 and its 200-day moving average is $30.36. The company has a market cap of $746.2 million and a price-to-earnings ratio of 152.89.

RTI International Metals (NYSE:RTI) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.13) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.07) by $0.06. The company had revenue of $174.50 million for the quarter, compared to the consensus estimate of $187.34 million. During the same quarter last year, the company posted $0.18 earnings per share. RTI International Metals’s revenue was down 7.8% compared to the same quarter last year. On average, analysts predict that RTI International Metals will post $1.00 earnings per share for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Zacks downgraded shares of RTI International Metals from a “neutral” rating to an “underperform” rating in a research note on Tuesday, April 29th. They now have a $26.40 price target on the stock. Analysts at TheStreet downgraded shares of RTI International Metals from a “buy” rating to a “hold” rating in a research note on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. RTI International Metals currently has a consensus rating of “Hold” and an average price target of $34.85.

RTI International Metals, Inc (NYSE:RTI) is a producer and global supplier of advanced titanium mill products, and a manufacturer of fabricated titanium and specialty metal components for the national and international aerospace, defense, energy, and industrial and consumer markets.

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