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UPDATE: Goldman Sachs Initiates RBC Bearings with Buy on Multiple Positive Factors

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In a report published Monday, Goldman Sachs analyst Samuel H. Eisner initiated coverage on RBC Bearings (NASDAQ: ROLL) with a Buy rating and $61.00 price target.

In the report, Goldman Sachs noted, “We initiate coverage with a Buy rating and a $61, 12-month price target. Our Buy rating reflects continued solid performance out of the company's A&D business alongside moderate short-cycle improvements in heavy truck and industrial distribution markets. As the company has significantly improved its financial position since going public nearly 10 years ago, we believe that increased M&A activity is likely. Further, as ROLL transitions its gross margin expansion towards cost restructuring rather than volume and pricing leverage, we believe the company is positioned to outperform.”

RBC Bearings closed on Friday at $51.95.

Latest Ratings for ROLL

DateFirmActionFromTo
Feb 2021Truist SecuritiesMaintainsHold
Jan 2021Truist SecuritiesUpgradesSellHold
Jul 2020SunTrust Robinson HumphreyDowngradesHoldSell

View More Analyst Ratings for ROLL
View the Latest Analyst Ratings

 

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Posted-In: Goldman Sachs Samuel H. EisnerAnalyst Color Initiation Analyst Ratings

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