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norges bank invests in kennametal as analysts lower price targets
Norges Bank acquired a new position in Kennametal worth approximately $5.5 million in Q4. The company, which specializes in tungsten carbides and super-hard materials, has faced mixed analyst ratings, with Barclays lowering its price target to $24.00. Recent insider buying by CEO Sanjay Chowbey and significant institutional investments highlight ongoing interest in the stock, despite its current "Reduce" rating among analysts.
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