Regal Rexnord price target raised to $185 from $180 at Seaport Research

Seaport Research raised the firm’s price target on Regal Rexnord to $185 from $180 and keeps a Buy rating on the shares. The company reported “good” Q1 results, but the stock traded lower due to the team’s cautious outlook for the PES segment and worries about the timing of the organic sales ramp in H2, the analyst tells investors. Seaport is raising its price target on the stock due to the 20%-30% discount to the firm’s peer group.