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Fly News Breaks for March 18, 2016
KMT
Mar 18, 2016 | 08:06 EDT
Longbow analyst Eli Lustgarten downgraded Kennametal to Underperform from Neutral with a $16 price target. The analyst's survey indicates continued weak end markets with potential further deteriorating stemming from energy market volatility and ongoing weakness in US industrial production. Additionally, Kennametal is losing market share to Chinese based carbide products and customers question the premium given to the brand, Lustgarten said.
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