KeyBanc upgraded RBC Bearings (RBC) to Overweight from Sector Weight with a $375 price target Following five quarters of negative organic growth, short cycle industrials are likely close to a bottom, the analyst tells investors in a research note. As such, the firm is shifting its ratings toward companies that have stronger competitive positions and pricing power, more identifiable catalysts, or more favorable end markets. Based on that, it upgraded RBC Bearings while downgrading Timken. RBC’s commercial aerospace build rates are likely to accelerate over the next several years, and its diversified defense business will remain high-growth and high-margin, contends KeyBanc.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RBC: