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UPDATE: Bank of America Downgrades RBC Bearings, Approaching Fair Value


In a report published Tuesday, Bank of America analyst Kristine T. Liwag downgraded the rating on RBC Bearings (NASDAQ: ROLL) from Buy to Neutral, but reiterated the $66.00 price target.

In the report, Bank of America noted, “We are downgrading RBC Bearings (ticker: ROLL) to Neutral from Buy. In our view the stock is approaching fair value and there is limited upside from current levels. RBC stock is up 26% YTD vs. the S&P 500 Index which has appreciated 18%. In our opinion, RBC's recent stock outperformance performance can be attributed to 1) a ramp-up in commercial aerospace, 2) improvement in ISM data PMI index since mid-2013 and 3) M&A activity in the bearings industry. However, defense is likely to be a near-term headwind for the company as the US government shutdown interrupts military maintenance and procurement.”

RBC Bearings closed on Monday at $63.21.

Latest Ratings for ROLL

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

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View the Latest Analyst Ratings


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Posted-In: Bank of America Kristine T. LiwagAnalyst Color Downgrades Analyst Ratings

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