Morgan Stanley raised the firm’s price target on RBC Bearings to $310 from $294 and keeps an Overweight rating on the shares. The firm expects RBC to lean on its operational excellence to continue to expand margins and drive synergies, the analyst tells investors in a research note. Morgan Stanley estimates RBC reaches 2.2x net debt to EBITDA as it closes FY24, which puts the company in position to begin evaluating assets and continue running its playbook as the industrial compounder to watch.
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