KeyBanc raised the firm’s price target on Regal Rexnord to $210 from $180 and keeps an Overweight rating on the shares after hosting investor meetings with management. The firm walked away incrementally positive on Regal Rexnord, as it feels the initial guidance sufficiently de-risks estimates and leaves plenty of room for beats/raises throughout 2024. KeyBanc cites its incremental confidence in the attractive EPS growth/deleveraging story as the organic/inorganic portfolio improvements show through for the price target change.
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