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In a report published Wednesday, Barrington Research analyst Rudolf A. Hokanson upgraded the rating on
Regal-Beloit CorporationRBC from Market Perform to Outperform, and named a $75.00 price target.
In the report, Barrington Research noted, “We are raising our investment rating on Regal-Beloit Corp. to an OUTPERFORM from a MARKET PERFORM. We are establishing a price target of $75 in the next 12 months based on P/E and TEV/EBITDA metrics. While subject to cyclicality, their portfolio is diverse between early, mid and late times in an economic cycle. RBC has been a successful acquirer of businesses that can improve margins and Regal's geographic footprint. Growth of net sales has averaged about 12% CAGR since 2005 and we expect it to continue, if not accelerate, as the global marketplace is demanding more energy-efficient products from the markets that RBC serves.”
Regal-Beloit Corporation closed on Tuesday at $62.85.
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