Market Overview

UPDATE: BMO Capital Markets Downgrades Rexnord to Market Perform on Valuation

Related RXN
5 Stocks Barclays Just Downgraded (And One It Upgraded)
As California's Drought Drags On, Winners And Losers Emerge
Rexnord Downgraded to Strong Sell on Market Headwinds (Zacks)

BMO Capital Markets downgraded Rexnord (NYSE: RXN) from Outperform to Market Perform and maintained a $21.00 price target.

BMO Capital Markets commented, "We are downgrading Rexnord to Market Perform from Outperform as we believe the shares appear full valued amid mixed demand in the Water Management and Process & Motion Control end markets as well as weakness in Europe and Asia. … Several companies that compete with or are in markets similar to Rexnord expect either a weak or slow growth environment in 2013 in key end markets such as mining, motion control, and water & wastewater."

Rexnord closed at $20.33 on Wednesday.

Latest Ratings for RXN

Oct 2015BarclaysDowngradesOverweightEqual-weight
May 2015WedbushDowngradesOutperformNeutral
Apr 2015Deutsche BankDowngradesBuyHold

View More Analyst Ratings for RXN
View the Latest Analyst Ratings

Posted-In: BMO Capital MarketsAnalyst Color Downgrades Analyst Ratings


Related Articles (RXN)

View Comments and Join the Discussion!

Get Benzinga's Newsletters