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Equities researchers at Stifel Nicolaus assumed coverage on shares of Albany International (NYSE: AIN) in a report issued on Wednesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $38.00 price target on the stock.

The analysts wrote, “We think the best of times is coming for the Albany Engineered Composites (AEC) segment, primarily because of its sole source supplier position for the composite cold-section fan blades and fan case for the LEAP family of jet engines that have already been selected to power the majority of next generation single-aisle airplanes, the workhorses of the global commercial airplane fleet. The days of strong revenue growth for the Machine Clothing (MC) business are likely over, but as the undisputed market leader in the mature paper industry supplying critical consumable products, we think the ability to maintain operating margin of about 25% with minimal future capital investment is possible. The operation is a strong cash flow generator that should provide the financial horsepower to build AEC to record levels rapidly.”

Shares of Albany International (NYSE: AIN) opened at 27.83 on Wednesday. Albany International has a one year low of $14.74 and a one year high of $30.10. The stock’s 50-day moving average is currently $28.74. The company has a market cap of $874.9 million and a P/E ratio of 28.17.

Albany International Corp., along with its subsidiaries, operates in five business segments: Paper Machine Clothing, Albany Door Systems, Engineered Fabrics, Engineered Composites and PrimaLoft Products.

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