Jefferies raises Kennametal to 'buy' on tungsten-driven earnings boost

Kennametal

13/01/2026 11:10

** Jefferies upgrades cutting tools and engineered components maker Kennametal KMT.N to "buy" from "hold", raises PT to $40 from $28

** New PT represents upside of 30.2% from stock's last close

** Brokerage says tungsten's price surge will significantly boost co's near-term earnings on strong pricing and delayed cost impact

     ** Jefferies states structural cost cuts are strengthening co's earnings resilience, while operating leverage could deliver meaningful upside if demand accelerates

** Brokerage raises 2026 EPS forecast to $2 from $1.50

** One of nine brokerages rate stock "strong buy", five "hold" and three "sell"; their median PT is $26.50 - data compiled by LSEG

** KMT rose 18.3% in 2025

 (Reporting by Apratim Sarkar in Bengaluru)

 ((Apratim.Sarkar@thomsonreuters.com))