Morgan Stanley initiated coverage on Regal-Beloit 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.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in