Morgan Stanley raised the firm’s price target on Kennametal (KMT) to $21 from $20 and keeps an Equal Weight rating on the shares. The firm, which made model adjustments among its Machinery and Construction coverage, also took note of several indicators, including that in construction the Dodge Momentum Index increased 0.9% month-over-month in April; that in aggregates and cement the Mortgage Bankers Association reported that mortgage applications increased 11.0% from one week earlier; and that in agriculture, Purdue University’s April Farmer Sentiment Index rose 8 points from the previous month.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on KMT:
- Kennametal price target raised to $24 from $22 at Barclays
- Kennametal’s Financial Outlook: Sell Rating Amid Temporary Gains and Tariff Challenges
- Kennametal Reports Mixed Q3 2025 Results Amid Challenges
- Kennametal Inc Navigates Mixed Earnings Call with Optimism
- Kennametal raises FY25 adjusted EPS view to $1.30-$1.45 from $1.05-$1.30