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UPDATE: KeyBanc Capital Markets Downgrades Kaman Corporation to Hold

Related KAMN
Earnings Scheduled For February 29, 2016
Benzinga's Top Upgrades

In a report published Monday, KeyBanc Capital Markets downgraded its rating on Kaman Corporation (NYSE: KAMN) from Buy to Hold.

KeyBanc Capital Markets noted, “Based on the confluence of what we consider a full valuation, a persisting sequestration overhang and the potential impact on growth rates for key defense programs (e.g., BLACKHAWK helicopter; including timing uncertainty on the K-MAX and SH-2G), we are downgrading shares. In line with our thesis, we believe investors have credited KAMN for operational improvements and a growth/return focused strategy (particularly within Industrial Distribution) as illustrated by outperformance over the course of 2012 (shown below), but now see the risk/reward more balanced. Moreover, we think investor enthusiasm regarding the K-MAX and SH-2G programs has increasingly shifted positive and could disappoint should these programs develop slower than currently envisioned.”

Kaman Corporation closed on Friday at $37.18.

Latest Ratings for KAMN

Jan 2017KeyBancUpgradesSector WeightOverweight
Dec 2015Longbow ResearchUpgradesNeutralBuy
Jul 2015KeyBancInitiates Coverage onSector Weight

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Posted-In: KeyBanc Capital MarketsAnalyst Color Downgrades Analyst Ratings


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