Market Overview

UPDATE: JP Morgan Lowers PT to $36 on Kennametal

Share:
Related KMT
Credit Suisse Reiterates Neutral Rating, Lowers Price Target On Kennametal Following Q2 Earnings
Top 4 NYSE Stocks In The Machine Tools & Accessories Industry With The Highest EPS Growth Forecast For Next Year

JP Morgan reiterated its Neutral rating on Kennametal (NYSE: KMT) and lowered its price target from $40 to $36.

JP Morgan said, "he company had an unusual quarter as YA distributors were stocking Widia products and destocked legacy brands, so comparables were tough. Pricing remains rational in the market place and management will not use pricing to liquidate inventories, which were higher than expected. In our view, demand may improve sequentially as we move through KMT's fiscal year but the comparables are very tough through FQ3 at least, making the 35%/65% split and the mid teen margins appear overly optimistic."

Kennametal closed at $36.91 on Tuesday.

Latest Ratings for KMT

DateFirmActionFromTo
Jan 2015JefferiesMaintainsHold
Jan 2015KeyBancDowngradesBuyHold
Nov 2014Goldman SachsDowngradesNeutralSell

View More Analyst Ratings for KMT
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (KMT)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Our Experts vs. S&P 500Powered by Benzinga
Marketfy Products Return S&P 500
Morning Profit Maker 42.72% 6.69%
The Option Prophet 91.14% 6.69%
SecretCaps 26.55% 6.69%
Short-Term Trend Trading 11.89% 6.69%
View the highest rated products→