AP Upgraded to Outperform on Exits, Tariff Pass-Through & ALP

Ampco-Pittsburgh Corporation (AP) , recently upgraded to an “Outperform” from “Neutral,” is emerging from a multi-year reset with a simpler footprint, firmer pricing discipline and growing exposure to end markets that are proving both resilient and strategic. After exiting structurally unprofitable operations and navigating tariff-driven volatility, management is increasingly framing the business around higher-quality earnings rather than volume for volume’s sake. Tariffs have been passed through successful ...