Bank of America has revised its price target for Kennametal (KMT, Financial), reducing it from $22.50 to $19. The banking firm has maintained an "Underperform" rating on the stock. This adjustment is part of a broader skepticism towards the upcoming earnings season within the Machinery, Engineering & Construction, and Waste sectors.
The firm identifies a precarious situation for the sector, where companies might either reduce their guidance due to prevailing uncertainties or risk seeming disconnected from market realities. This has prompted the firm to lower price targets across the sector and shift its focus towards services such as aggregates, rentals, and waste management, rather than on original equipment manufacturers.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 7 analysts, the average target price for Kennametal Inc (KMT, Financial) is $21.57 with a high estimate of $24.00 and a low estimate of $19.00. The average target implies an upside of 18.33% from the current price of $18.23. More detailed estimate data can be found on the Kennametal Inc (KMT) Forecast page.
Based on the consensus recommendation from 9 brokerage firms, Kennametal Inc's (KMT, Financial) average brokerage recommendation is currently 3.4, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Kennametal Inc (KMT, Financial) in one year is $25.79, suggesting a upside of 41.47% from the current price of $18.23. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Kennametal Inc (KMT) Summary page.
