Gates Industrial price target raised to $21 from $18 at KeyBanc

KeyBanc raised the firm’s price target on Gates Industrial to $21 from $18 and keeps an Overweight rating on the shares. Following Gates Industrial’s 2024 analyst day, the firm says it was impressed with management highlighting the attractive and controllable margin enhancement opportunities with a path to solid long-term top-line growth. All in, KeyBanc walked away with incremental conviction in its thesis, as it maintains current levels offer a uniquely compelling entry point, particularly relative to the positive long-term backdrop and upcoming potential near-term catalysts.