BofA lowered the firm’s price target on RBC Bearings to $230 from $244 and keeps an Underperform rating on the shares. While the firm raised its FY24, FY25 and FY26 adjusted EPS estimates, it cut its price target mainly to reflect year-to-date market de-rating and the roughly 8% dilution impact estimated from 2024 convertibles.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on RBC:
- RBC Bearings price target raised to $245 from $240 at Citi
- RBC Bearings to replace Hawaiian Electric in S&P 400 at open on 9/18
- RBC Bearings buys assets of precision bearings maker Specline for $18.7M
- RBC Bearings upgraded to Overweight from Neutral at Alembic Global
- RBC Bearings price target raised to $235 from $225 at Wells Fargo
