Market Overview

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

Share:
Related RXN
Benzinga's Top Upgrades, Downgrades For July 21, 2017
Earnings Scheduled For May 17, 2017

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

DateFirmActionFromTo
Jul 2017Janney CapitalInitiates Coverage OnBuy
Nov 2016KeyBancMaintainsOverweight
Nov 2016BairdUpgradesNeutralOutperform

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!
Loading...
Loading...