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Gates Industrial upgraded to Overweight from Equal Weight at Barclays
The Fly

Gates Industrial upgraded to Overweight from Equal Weight at Barclays

Barclays upgraded Gates Industrial (GTES) to Overweight from Equal Weight with a price target of $25, up from $21. Amid a “slightly brighter demand outlook” for short cycle industrial goods, the firm adjusted ratings in the U.S. multi-industry group as part of a 2025 outlook. Short cycle industrial goods are likely to be the key area of acceleration in 2025, the analyst tells investors in a research note. The firm says valuations are now at or approaching all-time highs for most stocks, “despite / because of all-time high earnings.”

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