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Fly News Breaks for January 15, 2020
B
Jan 15, 2020 | 05:09 EDT
UBS analyst Myles Walton upgraded Barnes Group to Buy from Neutral with a price target of $72, up from $60. The company's Industrial issues, which weighed heavily on 2019 performance, is now mostly behind it, Walton tells investors in a research note. The analyst sees Barnes Group's earnings rebounding to 8% growth in 2020 following an estimate of a slight decline in 2019. Further, the company's current valuation "should hold" as its free cash flow yield has become more attractive, Walton tells investors in a research note.
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