Jefferies Raises Price Target on Barnes Group (B) to $44 Following 2Q EPS Beat

Jefferies reiterated a Buy rating on Barnes Group (NYSE: B), and raised the price target to $44.00 (from $41.00), following the company's 2Q earnings report. B reported EPS of $0.63, above consensus estimates of $0.60. estimates for 2H16 and 2017 remain unchanged.

Analyst Bhupender Bohra commented, "B had a better-than-expected 2Q on margin outperformance as Aerospace transitional issues remained. Earnings growth is estimated to accelerate to double-digit in 2H on conversion of both Aerospace backlog and orders in its Industrial business. Sustainable productivity measures should also help margin in 2H16. Our 2H16 and 2017 estimates are unchanged."

For an analyst ratings summary and ratings history on Barnes Group click here. For more ratings news on Barnes Group click here.

Shares of Barnes Group closed at $37.93 yesterday.

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