Applied Industrial Technologies price target raised to $210 from $205 at Baird

Baird analyst David Manthey raised the firm’s price target on Applied Industrial Technologies to $210 from $205 and keeps an Outperform rating on the shares. The firm said its 4Q results were slightly better than expected despite a top-line miss, as the company continues to execute very well in a challenging demand environment. Baird is positive on the setup for the shares ahead as they have significant confidence in management’s ability to continue navigating the present cautious demand backdrop