BofA raised the firm’s price target on RBC Bearings to $310 from $280 and keeps a Buy rating on the shares. The firm expects the Industrial segment to see meaningful upside as July marks the first round of production in the new Mexico facility, while the Aerospace & Defense segment is poised for continued growth with accelerating demand, the analyst tells investors. RBC’s long-term tailwinds remain intact and BofA expects “strong execution,” the analyst added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RBC:
- RBC Bearings Confirms Top Executive Leadership Stability
- RBC Bearings initiated with a Market Perform at Raymond James
- Canadian Banks See a Huge Increase in Bad Transportation Loans
- American downgraded, United upgraded: Wall Street’s top analyst calls
- RBC Bearings resumed with an Outperform at William Blair
Questions or Comments about the article? Write to editor@tipranks.com