Citi raised the firm’s price target on RBC Bearings to $245 from $240 and keeps a Neutral rating on the shares. The analyst updated the company’s model to reflect higher near-term margins, as well as the integration of the Specline acquisition post the “solid” fiscal Q1 report. However, the firm sees the Dodge business as more of a “show-me story” amid an uncertain outlook for its shorter-cycle industrial end markets. Citi sees a balanced risk/reward tradeoff at current share levels.
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Read More on RBC:
- 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
- RBC Bearings price target raised to $275 from $265 at Truist
