Jefferies Reiterates Hold Rating, $23 PT on Barnes Group

In a report published Wednesday, Jefferies & Company reiterated its Hold rating and $23.00 price target on Barnes Group

. Jefferies noted, “B has agreed to acquire Synventive Molding, a manufacturer of injection molding components and systems largely serving the European and international transportation markets. It is a new platform. Margin and valuation details will be provided on the 2Q12 earnings call on 7/27/12.” Barnes Group closed on Tuesday at $23.29.