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Upgrade Alert for Kennametal (KMT)

By David Diaz

Kennametal (NYSE:KMT) was upgraded from Hold to Buy at Jefferies today. The stock closed yesterday at $35.26 on volume of 913,000 shares, above average daily volume of 647,000.

Kennametal share prices have moved between a 52-week high of $49.24 and a 52-week low of $27.63 and closed yesterday at 28% above that low price at $35.26 per share. The 200-day and 50-day moving averages have moved 0.46% lower and 0.17% higher over the past week, respectively.

Kennametal Inc. manufactures, purchases, and distributes tools, tooling systems, and solutions to the metalworking, mining, oil, and energy industries. The Company also manufactures and distributes wear-resistant parts for a wide range of industries. Kennametal operates worldwide.

Kennametal (NYSE:KMT) is currently priced 1.3% above its average consensus analyst price target of $34.80. The stock should find resistance at its 200-day moving average (MA) of $37.92, as well as support at its 50-day MA of $34.43.

SmarTrend is monitoring the recent change of momentum in Kennametal. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Kennametal in search of a potential trend change.

Keywords: analyst upgrades/downgrades kennametal

Ticker(s): KMT