KeyBanc lowered the firm’s price target on Regal Rexnord (RRX) to $170 from $180 and keeps an Overweight rating on the shares. Within the context of the firm’s Overweight rating around the attractive portfolio transformation and deleveraging catalyst, KeyBanc sees near-term risk into Q3 2025 earnings around softer trends in PES and AMC. While the firm acknowledges Regal Rexnord’s apparent conservatism in PES following recent challenges and easier compares vs. most industry peers, KeyBanc feels upside is less likely to materialize in PES given the well-documented softening in R-HVAC.
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