UPDATE: DA Davidson Starts Barnes Group (B) at Neutral

(updated to add analyst comment)

DA Davidson initiates coverage on Barnes Group (NYSE: B) with a Neutral rating and a price target of $63.00.

Analyst Matt Summerville comments "In short, we believe Barnes has an excellent Aerospace franchise and is well positioned on key platforms such as the A350XWB, A320neo and B737MAX, with opportunities to secure future content on forthcoming platforms (C919 and B777X). We also believe its aerospace aftermarket business is poised for respectable organic growth over the next few years. Within its Industrial business, it faces tough comps throughout 2018, particularly with respect to Molding Solutions and Nitrogen Gas Products and remains operationally challenged within certain of its legacy operations, though we are seeing evidence that these headwinds may be subsiding."

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 $60.75 yesterday.

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