By: Benzinga
January 11, 2013 at 10:12 AM EST
UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on Kennametal
In a report published Friday, Jefferies & Company reiterated its Hold rating on Kennametal (NYSE: KMT ), and raised its price target from $34.00 to $38.00. Jefferies noted, “We see more downside than upside risk in 4Q machinery earnings, and we continue to recommend a defensive short-term stance. Extended production
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