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Benzinga

Business

Akanksha Bakshi

KeyBanc Downgrades This Diversified Industrial Company

Asia Europe IHS Russia

NN Inc (NASDAQ:NNBR) was downgraded to Sector Weight from Overweight by KeyBanc analyst Steve Barger without a price target.
Barger takes a conservative approach to the NNBR's industrial and semicap equipment coverage, citing ongoing uncertainty around the Russia-Ukraine conflict, persisting inflationary surges in commodity and energy costs, and the COVID resurgence in Asia.
The analyst believes challenges will continue in 1H22, amidst IHS again reducing its global auto production forecast and concerns around Europe activity levels and inflation-driven gross margin pressure.
Price Action: NNBR shares are trading lower by 4.22% at $2.95 on the last check Friday.

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