Truist analyst Michael Ciarmoli lowered the firm’s price target on RBC Bearings to $252 from $260 and keeps a Buy rating on the shares as part of a broader research note previewing Q1 results in the Aerospace and Defense sector. The firm remains "broadly bullish" on the defense sector as supply chain pressures are well known, outlooks are appropriately conservative and the demand backdrop should continue to strengthen. OEM production rates will also continue to increase, though recessionary fears are still tempering overall enthusiasm for the group, the analyst tells investors in a research note.
Published first on TheFly
