Kadant price target raised to $410 from $360 at Barrington

Barrington analyst Gary Prestopino raised the firm’s price target on Kadant (KAI) to $410 from $360 and keeps an Outperform rating on the shares following the company’s investor day meeting last week. After company provided a roadmap for value creation and 2028 goals in terms of revenue, adjusted EPS and adjusted EBITDA targets, the firm notes that its own adjusted EBITDA estimates for 2024 and 2025 are $227M and $246M, respectively.