Gates Industrial price target lowered to $84 from $86 at RBC Capital

RBC Capital lowered the firm’s price target on Gates Industrial (GTES) to $84 from $86 and keeps an Outperform rating on the shares as part of a broader research note previewing 2025 for the Multi-Industry sector. Secular drivers like electrification, reshoring, and datacenters remain powerful growth drivers, and Trump 2.0 should be decidedly pro-business and tariffs should be a manageable risk, the analyst tells investors in a research note. For the company, the firm notes that its target multiple reflects the absence of further sponsor selldown pressures, enhanced multi-year earnings visibility, and improving balance sheet optionality that offset pockets of near-term headwinds in personal mobility, agricultulre, construction, and auto OE production.