Barclays lowered the firm’s price target on Regal Rexnord to $196 from $206 but keeps an Overweight rating on the shares. The analyst states that while the sale of the company’s Industrial Motors and Generators business is lower than the firm modelled, it does not make much difference to the stock’s investment case as the company is de-levering anyway given its strong free cash flows. The firm adds that Regal Rexnord shares are “already priced for weak earnings”, also noting that the stock’s valuation is low.
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Read More on RRX:
- Regal Rexnord Corporation Announces Definitive Agreement To Sell Its Industrial Motors & Generators Businesses To WEG
- Regal Rexnord to sell Industrial Motors and Generators business to WEG
- Regal Rexnord management to meet with Loop Capital
- Regal Rexnord price target raised to $211 from $184 at Baird
- Regal Rexnord narrows FY23 adjusted EPS view to $10.20-$10.60 from $10.20-$11.10
