RBC Bearings price target raised to $240 from $235 at Wells Fargo

Wells Fargo raised the firm’s price target on RBC Bearings to $240 from $235 and keeps an Equal Weight rating on the shares. The firm notes that RBC is up 5% since reporting Q2 2024 as ramping aero and Dodge synergies supported upside margin and EBITDA/EPS, offsetting a shaved full year revenue outlook, including light Q2 industrial, which remains a source of Wells caution.