BofA initiated coverage of Applied Industrial Technologies with a Neutral rating and $232 price target The firm believes current softness in the manufacturing environment will pressure Applied Industrial’s revenue and earnings over the next six months, the analyst tells investors in a research note. While AIT has a solid capital allocation track record and good long-term end market trends, the firm expects macro headwinds to pressure EPS growth into 2025.
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Read More on AIT:
- Applied Industrial Technologies price target raised to $245 from $215 at KeyBanc
- Applied Industrial Technologies management to meet with KeyBanc
- Applied Industrial Technologies initiated with an Outperform at Raymond James
- Applied Industrial Technologies price target raised to $210 from $205 at Baird
- Applied Industrial Technologies CEO Schrimsher sells 3,703 common shares
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