Hardinge (HDNG -1.2%) slips in spite of an upbeat intiation at Ascendiant this morning with a...

|By:, SA News Editor

Hardinge (HDNG -1.2%) slips in spite of an upbeat intiation at Ascendiant this morning with a Buy rating and a $17 price target. The firm says that the company's recent acquisition of Forkardt is expected to increase higher margin workholding revenue to one third of total sales from roughly one quarter of sales currently. Additionally, the company has made investments in existing facilities which should improve productivity and expand capacity.