Baird analyst Michael Halloran lowered the firm’s price target on Regal Rexnord (RRX) to $184 from $188 and keeps an Outperform rating on the shares. The analyst noted they closed their acquisiiton of Altra Industrial Motion (AIMC) makig its second transformative acquisition in just over two years. We remain bullish on the transaction given its strong strategic fit/complementary products, underappreciated quality of motion control assets, optionality/potential of the combined assets, significant cost/revenue synergy opportunities, and attractive accretion/return profile.
Published first on TheFly
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- REGAL REXNORD CORPORATION COMPLETES ACQUISITION OF ALTRA INDUSTRIAL MOTION CORP.
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- Altra Industrial Motion, Regal Rexnord get regulatory approval to merge
- REGAL REXNORD AND ALTRA ANNOUNCE RECEIPT OF ALL REQUIRED REGULATORY APPROVALS FOR MERGER
- Regal Rexnord Announces Extension of Tender Offer
