Baird raised the firm’s price target on Applied Industrial Technologies to $250 from $210 and keeps an Outperform rating on the shares. The firm likes the cyclical setup for the industrial distribution group heading into the Q3 report, citing the sector’s leverage to rate cuts and accelerating end markets in 2025 and beyond. The combination of lower rates, secular drivers, and easing election uncertainty should drive improved industrial and commercial markets in 2025, the analyst tells investors in a research note.
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Read More on AIT:
- Applied Industrial Technologies initiated with a Neutral at BofA
- 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
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