UPDATE: Barrington Research Upgrades RBC Bearings to Outperform on Minimal Downside Risk

In a report published Tuesday, Barrington Research analyst Rudolf A. Hokanson upgraded the rating on RBC Bearings (NASDAQ: ROLL) from Market Perform to Outperform, and named a $60.00 price target.

In the report, Barrington Research noted, “We are raising our investment rating on RBC Bearings Inc. to OUTPERFORM from MARKET PERFORM and have a price target of $60 per share by June 2014. We believe there is minimal downside risk to stock at current levels and possible upside leverage could make our target conservative. ROLL's marketing strategy is aimed at both of their primary markets (Industrial and Aerospace & Defense) and is focused on applications where they can exploit their competitive strengths. They are entering new geographies where they haven't been before. Growth in industrial machinery and equipment shipments and construction, mining, energy and general industrial activity are all important drivers. And as equipment is used, and worn, there are the aftermarkets and replacements.”

RBC Bearings closed on Monday at $50.12.