KeyBanc upgraded RBC Bearings (RBC) to Overweight from Sector Weight with a $375 price target Following five quarters of negative organic growth, short cycle industrials are likely close to a bottom, the analyst tells investors in a research note. As such, the firm is shifting its ratings toward companies that have stronger competitive positions and pricing power, more identifiable catalysts, or more favorable end markets. Based on that, it upgraded RBC Bearings while downgrading Timken. RBC’s commercial aerospace build rates are likely to accelerate over the next several years, and its diversified defense business will remain high-growth and high-margin, contends KeyBanc.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
