Jefferies Reiterates Buy on Kaman Corporation, Raises PT to $41 (KAMN)
Jefferies reiterated its Buy rating on Kaman Corporation (NASDAQ: KAMN). At the same time, Jefferies increased its price target on Kaman from $38 to $41. In a research report published today, Jefferies based its optimism on rising sales and demand.
In the report, Jefferies states, "We reiterate our Buy rating on the shares of KAMN with a $41 price target. Double digit sales growth in each of the business segments coupled with operating margin expansion should drive earnings growth. Additional wins for the aerospace business provides a solid long-term backlog. While some programs have been pushed out stronger than expected demand from the higher margin aerospace bearings business should be a positive for revenues and margins. We continue to see KAMN as a multi-year investment as the company executes on initiatives to grow the business and improve profitability."
In today's trading, Kaman added 3.61% to its value and is currently standing at $37.32.
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