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Upgrade Alert for Kennametal (KMT)

By Amy Schwartz

Kennametal (NYSE:KMT) was upgraded from Underperform to Neutral at Longbow today. The stock closed yesterday at $17.53 on volume of 3.5 million shares, above average daily volume of 1.8 million.

In the past 52 weeks, shares of Kennametal have traded between a low of $15.11 and a high of $39.91 and closed yesterday at $17.53, which is 16% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.7% while the 200-day MA has slid 0.9%.

Kennametal (NYSE:KMT) has potential upside of 76.8% based on a current price of $17.53 and analysts' consensus price target of $31.00. Kennametal shares should first meet resistance at the 50-day moving average (MA) of $20.84 and find additional resistance at the 200-day MA of $28.77.

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.

SmarTrend recommended that its subscribers protect gains by selling shares of Kennametal on October 19th, 2015 by issuing a Downtrend alert when the shares were trading at $26.21. Since that call, shares of Kennametal have fallen 33.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades kennametal

Ticker(s): KMT