TriMas price target lowered to $38 from $45 at KeyBanc

KeyBanc lowered the firm’s price target on TriMas (TRS) to $38 from $45 and keeps an Overweight rating on the shares following the company’s announcement to divest its Aerospace business for $1.45B. The firm says that while the shift in the portfolio isn’t what it had originally hoped for, KeyBanc thinks the recent selloff is likely overdone, and its updated sum-of-the-parts suggests the Remain Co is worth about $38/share on a standalone basis.