Barclays Maintains Equal-Weight on Kennametal, Lowers Price Target to $25
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Julian Mitchell has maintained an Equal-Weight rating on Kennametal (NYSE:KMT) and reduced the price target from $26 to $25.
February 08, 2024 | 7:55 pm
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Barclays has maintained an Equal-Weight rating on Kennametal and lowered the price target from $26 to $25.
The reduction in price target by Barclays, a major financial institution, could lead to a negative short-term sentiment among investors, potentially causing a decrease in KMT's stock price. The maintenance of an Equal-Weight rating indicates that the analyst sees the stock as fairly valued at its current price, but the lowered price target suggests a reduced growth or performance outlook.
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