Regal Rexnord price target lowered to $175 from $200 at Oppenheimer

Oppenheimer analyst Christopher Glynn lowered the firm’s price target on Regal Rexnord to $175 from $200 and keeps an Outperform rating on the shares. Regal Rexnord cut its adjusted EPS guidance to $9.15 at the midpoint, a reduction of 12%, primarily from inventory destocking acceleration, the analyst tells investors in a research note.