Android app on Google Play

KeyBanc Upgrades Barnes Group (B) to Buy

March 11, 2013 7:14 AM EDT Send to a Friend
Get Alerts B Hot Sheet
Price: $39.66 --0%

Rating Summary:
    6 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
Trade B Now!
Join SI Premium – FREE
KeyBanc upgraded Barnes Group (NYSE: B) from Hold to Buy with a price target of $33.00 following Q4 results and investor meetings last week with Barnes Group’s newly
appointed President and CEO, Patrick Dempsey, as well as Executive Vice Chairman
and outgoing CEO Greg Milzcik.

"Following this trip, and considering our favorable view of the recently announced divestiture of its North American Distribution business (BDNA) and potential capital redeployment opportunities, we are upgrading our rating on Barnes shares from HOLD to BUY and setting our price target at $33," the analsyt said.

The firm maintained 2013E of $2.10, including a 1Q13E (March) of $0.50 vs. $0.41, and established 2014E at $2.30.


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 $27.83 yesterday.




You May Also Be Interested In


Related Categories

Upgrades

Related Entities

KeyBanc

Add Your Comment