Regal Rexnord price target lowered to $165 from $187 at Baird

Baird lowered the firm’s price target on Regal Rexnord to $165 from $187 and keeps an Outperform rating on the shares. The firm elevated the shares to a bullish Fresh Pick and it remains a top multi-year idea. They believe this pullback creates a unique opportunity to buy a short-cycle industrial with dynamic multi-year earnings power, strong FCF and significantly improving financial quality that is trading at trough earnings against a trough multiple