RBC Capital raised the firm’s price target on Gates Industrial (GTES) to $26 from $22 and keeps an Outperform rating on the shares. The firm hosted investor meetings with the company CFO, and the messaging was all consistent with the Q3earnings call offering visibility into the expected 400bps margin expansion from 80/20, material cost savings, and footprint optimization and productivity, the analyst tells investors in a research note. Datacenter liquid cooling applications with its electronic water pumps and hoses should present an exciting new growth opportunity for Gates Industrial, RBC added.
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- Trump Trade: Analyst moves to sidelines on Capital One after Trump rally
- Gates Industrial price target raised to $27 from $24 at Citi
- Gates Industrial price target raised to $26 from $23 at Jefferies
- Gates Industrial upgraded to Overweight from Equal Weight at Barclays
- Gates Industrial price target raised to $21 from $16 at Barclays
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
