Barrington Research Upgrades Kennametal (KMT) to Outperform

November 14, 2012 12:39 PM EST Send to a Friend
Get Alerts KMT Hot Sheet
Price: $35.00 -1.19%

Rating Summary:
    6 Buy, 8 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 15 | Down: 38 | New: 13
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Barrington Research upgraded Kennametal (NYSE: KMT) from Market Perform to Outperform with a price target of $42.00.

The firm comments, "Our investment thesis has changed following the October organic orders, which improved slightly from September. October organic orders declined 6%, which was a modest improvement from the decline of 7% in September. KMT commented that a negative impact from Hurricane Sandy may have been a slight negative during October. With Europe's recession likely to get worse before it gets better and U.S. industrial being impacted by the fiscal cliff, we believe that KMT's orders will remain weak. However, our recent 2013 EPS cut reflects the current situation. Continued sequential order improvement could result in Q2/13 sales and EPS upside. In our view, KMT is a high quality company that has improved its cost structure and return characteristics."

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

Shares of Kennametal closed at $35.12 yesterday.

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