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UPDATE: Morgan Stanley Initiates Regal-Beloit at Equal-Weight

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Morgan Stanley initiated coverage on Regal-Beloit (NYSE: RBC) with an Equal-weight rating and a $76 price target.

Morgan Stanley commented, "We have a positive view on the Resi HVAC market, but RBC is likely to underperform industry growth in the face of lower mix of high-efficiency systems. Moreover, the stock trades at a 4% discount vs. peers, in line with historical norms, following sharp YTD outperformance (+36%)."

Regal-Beloit closed at $68.60 on Wednesday.

Latest Ratings for RBC

DateFirmActionFromTo
Mar 2015KeyBancMaintainsOverweight
Feb 2015Goldman SachsReinstatesNeutral
Feb 2015JefferiesMaintainsHold

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Posted-In: Morgan StanleyAnalyst Color Initiation Intraday Update Analyst Ratings

 

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