BofA analyst Ronald Epstein downgraded Albany International (AIN) to Underperform from Neutral with a price target of $95, down from $105. While the firm says it appreciates the early signs of recovery in Europe and Asia in Machine Clothing, it expects low-single-digit organic growth, while in Albany Engineered Composites the firm sees limited upside potential due to the Boeing’s (BA) 737 MAX production rate freeze. In total, the firm sees “a muted growth story” in 2024 for Albany, the analyst tells investors.
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