Oppenheimer Still Upbeat After Meeting With Barnes Management (B)

Oppenheimer analysts Christopher Glynn and Christopher Wiggins reiterated their Outperform rating for Barnes Group B after meeting with management. The analysts said, "While the timing of the aerospace aftermarket recovery remains elusive, order rates across industrial and transportation markets should provide momentum into 2Q. Later 2010/into '11, eventual snapback in high margin aero AM, coupled with planned OE production ramp for B's key platforms, and continued economic growth would likely support further automotive production and industrial capacity utilization." Oppenheimer remains more optimistic than other research analysts, with a 2010E EPS of $1.10, 20 cents above consensus. Barnes Group has a price target of $26.00. B is currently trading at $17.70.