Kennametal price target raised to $22 from $20 at JPMorgan

JPMorgan raised the firm’s price target on Kennametal (KMT) to $22 from $20 and keeps an Underweight rating on the shares. The firm adjusted targets in the machinery and waste services group ahead of the Q3 reports. The sector has historically underperformed in the three months after the first Federal Reserve rate cut and another escalation of tariffs on Chinese goods should impact Q4 earnings for most companies, the analyst tells investors in a research note. JPMorgan established December 2026 price targets versus December 2025 previously.