Albany International downgraded to Hold from Buy at Truist

Truist downgraded Albany International (AIN) to Hold from Buy with a price target of $55, down from $70. Post Q2, the firm expects that EAC charges will be “a part of the story in the coming periods,” which will be an overhang on performance and valuation. The firm also sees risk to the company achieving the FY25 outlook and believes the new CFO is “likely to press the reset button in the near term,” the analyst tells investors.