Wolfe Research Upgrades Regal Rexnord to Outperform, Announces $151 Price Target
Portfolio Pulse from Benzinga Newsdesk
Wolfe Research analyst Nigel Coe has upgraded Regal Rexnord (NYSE:RRX) from Peer Perform to Outperform and set a price target of $151. This upgrade reflects a positive outlook on the company's performance and potential growth.
December 11, 2023 | 12:51 pm
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POSITIVE IMPACT
Regal Rexnord was upgraded by Wolfe Research from Peer Perform to Outperform with a new price target of $151, indicating a positive sentiment towards the company's stock.
Upgrades by analysts, especially from neutral to outperform ratings, typically result in a positive short-term reaction in the stock market as they suggest a better-than-average performance expectation. The new price target of $151 implies a significant upside potential from the current trading price, which can lead to increased investor interest and a rise in stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100