Kadant price target raised to $303 from $295 at DA Davidson

DA Davidson raised the firm’s price target on Kadant (KAI) to $303 from $295 and keeps a Neutral rating on the shares. The company continues to deliver surprisingly resilient performance in their parts and consumables business, though with offsets from weak capital equipment bookings, the analyst tells investors in a research note. The firm adds however that it remains cautious on embedded organic capital equipment performance and sees valuation as full.