Credit Suisse Downgrades Kennametal as Valuations Move Forward

In a report published Monday, Credit Suisse analyst Julian Mitchell downgraded Kennametal (NYSE: KMT ) from Outperform to Neutral, keeping its $50.00 price target. According to the report, 2014-2015 EPS estimates have been slightly reduced as valuations moves forward. “While management has done a very laudable job in holding