Albany International price target lowered to $80 from $90 at BofA

BofA lowered the firm’s price target on Albany International (AIN) to $80 from $90 and keeps an Underperform rating on the shares. The outlook for key OEM commercial aerospace and defense programs remains “challenged,” while, Albany’s Machine Clothing business faces continued secular difficulties, argues the analyst, who sees a lack of growth signals across the portfolio and lingering margin pressures.