Topeka Capital Markets Reiterates Hold Rating, $35 PT on Kaman Corporation

In a report published Friday, Topeka Capital Markets reiterated its Hold rating and $35.00 price target on Kaman Corporation

. Topeka Capital Markets noted, “Following a review of our 2013 outlook, we are tweaking our estimates modestly lower to reflect the recent announcement of the sale of Canadian distribution assets to Wajax Industrial Components. Our revised 2013 estimate of $2.39 is at the Street low, and we believe expectations will continue to decline as defense trends decelerate, and subdued global growth limits organic distribution growth rates. We reiterate our Hold rating and $35 price target.” Kaman Corporation closed on Thursday at $37.42.