In a report published Monday, Goldman Sachs analyst Samuel H. Eisner initiated coverage on Kennametal KMT with a Neutral rating and $43.00 price target.
In the report, Goldman Sachs noted, “We initiate coverage of KMT with a Neutral rating and a $43, 12-month price target. While we believe that we are on the cusp of increased manufacturing activity domestically, we believe that end market constraints for KMT (principally from mining) will limit the company's participation, in our view. As the company has gone through a destocking period and an associated curtailment in production, we believe visibility remains limited.”
Kennametal closed on Friday at $38.83.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in