Market Overview

UPDATE: Barrington Research Upgrades Kennametal to Outperform on Organic Order Trends

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

Barrington Research raised its rating on Kennametal (NYSE: KMT) from Market Perform to Outperform and moved its price target to $42 per share.

Barrington Research noted, "Our investment thesis has changed following the October organic orders, which improved slightly from September. October organic orders declined 6%, which was a modest improvement from the decline of 7% in September. KMT commented that a negative impact from Hurricane Sandy may have been a slight negative during October. … Continued sequential order improvement could result in Q2/13 sales and EPS upside. In our view, KMT is a high quality company that has improved its cost structure and return characteristics."

Kennametal closed at $35.39 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: Barrington ResearchAnalyst Color Upgrades Intraday Update Analyst Ratings

 

Related Articles (KMT)

Around the Web, We're Loving...

Get Benzinga's Newsletters