BofA analyst Ronald Epstein lowered the firm’s price target on Albany International (AIN) to $65 from $75 and keeps an Underperform rating on the shares. Challenges on program execution continue to restrict Albany Engineered Composites and more charges on key AEC programs in Q1 “reinforce a tough path ahead for profitability,” the analyst tells investors. The firm sees Albany International remaining challenged on both demand and execution concerns, the analyst added.
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