Truist analyst Michael Ciarmoli lowered the firm's price target on Albany International to $50 from $55 and keeps a Hold rating on the shares. The company's quarterly results missed all around while guidance was pulled due to uncertainty around the strategic review of the Albany Engineered Composites segment structures business and MC - Machine Clothing - faced headwinds from Asian end-markets as the segment continues work to return margins to historical levels through internal efficiency initiatives, the analyst tells investors in a research note.
