KeyBanc Upgrades Barnes Group (B) to Buy - InvestingChannel

KeyBanc Upgrades Barnes Group (B) to Buy

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March 11, 2013 7:14 AM EDT Tweet

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Rating Summary:

3 Buy, 2 Hold, 0 Sell

Rating Trend: Up

Today’s Overall Ratings:

Up: 22 | Down: 28 | New: 15

KeyBanc upgraded Barnes Group (NYSE: B) from Hold to Buy with a price target of $33.00 following Q4 results and investor meetings last week with Barnes Group’s newly

appointed President and CEO, Patrick Dempsey, as well as Executive Vice Chairman

and outgoing CEO Greg Milzcik.

“Following this trip, and considering our favorable view of the recently announced divestiture of its North American Distribution business (BDNA) and potential capital redeployment opportunities, we are upgrading our rating on Barnes shares from HOLD to BUY and setting our price target at $33,” the analsyt said.

For an analyst ratings summary and ratings history on Barnes Group click here. For more ratings news on Barnes Group click here.

Shares of Barnes Group closed at $27.83 yesterday, with a 52 week range of $19.71-$29.11.

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