Kennametal price target raised to $24 from $22 at Loop Capital

Loop Capital analyst Chris Dankert raised the firm’s price target on Kennametal to $24 from $22 and keeps a Hold rating on the shares. Kennametal has set a highly achievable bar for Q1 earnings aided by favorable price/cost tailwinds, the analyst tells investors in a research note. Full year guidance calls for roughly flat EPS at the midpoint, but meaningful tax headwinds, flattish volumes, and a 2H-weighed outlook presents some meaningful headwinds, the firm says.