Wolfe Research analyst Nigel Coe upgraded Gates Industrial to Outperform from Peer Perform with a $20 price target. The analyst sees significant multiple expansion potential driven by the company’s growth recovery and better margin and free cash flow execution. Wolfe also sees signs that the Blackstone overhang is fading as a risk factor. The firm says Gates is one of the cheapest stocks in an increasingly expensive multi-industry sector.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on GTES:
- Gates Industrial initiated with a Buy at Jefferies
- DoorDash upgraded, Wendyâs downgraded: Wall Street’s top analyst calls
- Gates Industrial upgraded to Overweight from Sector Weight at KeyBanc
- Gates Industrial Announces Secondary Offering and Share Buyback
- Gates Industrial announces offering of 17.5M ordinary shares for holders
