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

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