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UPDATE: Bank of America Upgrades RBC Bearings on Upside From Capital Deployment

Related ROLL
7 Stocks To Watch For May 31, 2017
Earnings Scheduled For May 31, 2017

In a report published Wednesday, Bank of America analyst Kristine T. Liwag upgraded the rating on RBC Bearings (NASDAQ: ROLL) from Neutral to Buy, and raised the price target from $70.00 to $75.00.

In the report, Bank of America noted, “We are upgrading RBC Bearings (ticker: ROLL) to Buy from Neutral. RBC Bearings is half diversified industrials and half aerospace and defense. Weaker than expected sales from diversified industrials weighed down sentiments as organic growth was only up 1% Y/Y in 3QFY14. We are becoming more positive on the stock for three reasons: 1) the worst in industrials is behind the company, 2) the aerospace & defense half of the business remains strong, and 3) the company's balance sheet is overlooked and could provide significant upside. Overall, recent pullback of the stock provides an attractive entry point and we target nearly 22% in returns in the next twelve months.”

RBC Bearings closed on Tuesday at $61.63.

Latest Ratings for ROLL

Nov 2017Bank of AmericaMaintainsBuy
Dec 2016William BlairUpgradesMarket PerformOutperform
Oct 2016Seaport GlobalDowngradesNeutral

View More Analyst Ratings for ROLL
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Posted-In: Bank of America Kristine T. LiwagAnalyst Color Upgrades Analyst Ratings


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