Gates Industrial price target raised to $27 from $23 at KeyBanc

KeyBanc raised the firm’s price target on Gates Industrial (GTES) to $27 from $23 and keeps an Overweight rating on the shares. Following Gates’ Q4 earnings, with the soft short-cycle environment well-documented by peers, the firm walked away impressed by the company’s strong self-help execution showing through on Q4 and the 2025 outlook. As such, KeyBanc has incremental confidence in its long-term thesis and sees shares continuing to re-rate higher as investors appreciate the ample self-help runway remaining.