Loop Capital raised the firm’s price target on Applied Industrial Technologies (AIT) to $270 from $230 and keeps a Buy rating on the shares. AIT is well-positioned to benefit from accelerating IP while improving mix continues to fuel margin expansion and accretive capital deployment can add incremental upside to earnings, the analyst tells investors in a research note. Guidance remains conservative, assuming incremental demand deterioration into Q2 and generally stable market trends into the second half, the firm says.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on AIT:
- Applied Industrial Technologies (AIT) Unveils Dividend Details for Q4: Mark Your Calendar!
- Applied Industrial Technologies Appoints New Principal Accounting Officer
- Applied Industrial Technologies price target raised to $275 from $245 at KeyBanc
- Applied Industrial Technologies price target raised to $240 from $232 at BofA
- Applied Industrial Technologies price target raised to $250 from $225 at Raymond James
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
