Truist Securities Maintains Hold on Barnes Gr, Raises Price Target to $34
Portfolio Pulse from Benzinga Newsdesk
Truist Securities analyst Michael Ciarmoli has maintained a Hold rating on Barnes Group (NYSE:B) and increased the price target from $23 to $34.
January 10, 2024 | 2:15 pm
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Truist Securities reaffirmed a Hold rating on Barnes Group, but raised the price target from $23 to $34, indicating a positive outlook on the company's valuation.
The increase in price target from $23 to $34 by Truist Securities suggests that the analyst sees improved prospects or undervaluation at the previous target. While the Hold rating indicates no immediate change in stock performance, the raised target could lead to positive investor sentiment and a potential increase in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100