UPDATE: Jefferies & Company Reiterates Hold Rating, Lowers PT on Regal Beloit Corporation

In a report published Wednesday, Jefferies & Company reiterated its Hold rating on Regal Beloit Corporation (NYSE: RBC), but lowered its price target from $77.00 to $74.00.

Jefferies noted, “RBC's Annual Investor & Analyst Day in NYC showed sales pressures persist and we expect the same through 1H13. End-market improvements and internal programs should then accelerate earnings. But in lowering our estimates, the acceleration is now off a lower earnings base.”

Regal Beloit Corporation closed on Tuesday at $68.55.

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