Gates Industrial upgraded to Overweight from Equal Weight at Barclays

Barclays upgraded Gates Industrial (GTES) to Overweight from Equal Weight with a price target of $25, up from $21. Amid a “slightly brighter demand outlook” for short cycle industrial goods, the firm adjusted ratings in the U.S. multi-industry group as part of a 2025 outlook. Short cycle industrial goods are likely to be the key area of acceleration in 2025, the analyst tells investors in a research note. The firm says valuations are now at or approaching all-time highs for most stocks, “despite / because of all-time high earnings.”