Kadant price target raised to $280 from $243 at Barrington

Barrington raised the firm’s price target on Kadant to $280 from $243 and keeps an Outperform rating on the shares after the company completed its previously announced acquisition of Key Knife, a global supplier of engineered knife systems. The firm believes that 2024 will be “a solid year for Kadant” and is raising its price target based on that belief as well as the accretive acquisition of Key Knife, the analyst tells investors.