Barnes Group price target lowered to $25 from $40 at DA Davidson

DA Davidson analyst Matt Summerville lowered the firm’s price target on Barnes Group to $25 from $40 and keeps a Neutral rating on the shares after its Q3 earnings miss and guidance cut. The firm’s updated estimates reflect significant dilution from the recently closed acquisition of MB Aerospace and the ongoing operational challenges within both core segments, Industrial/Aerospace, with the former of which being in the midst of a complex, heavy-lift restructuring, the analyst tells investors in a research note.