Keybanc Upgrades Gates Industrial Corp to Overweight, Announces $18 Price Target
Portfolio Pulse from Benzinga Newsdesk
Keybanc analyst Jeffrey Hammond has upgraded Gates Industrial Corp (GTES) from Sector Weight to Overweight and set a price target of $18.

February 22, 2024 | 12:21 pm
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Gates Industrial Corp was upgraded by Keybanc from Sector Weight to Overweight with a new price target of $18.
Analyst upgrades typically lead to positive short-term price movements as they reflect a positive change in the analyst's view of the company's future performance. The upgrade from Sector Weight to Overweight suggests that Keybanc now sees GTES as a better investment relative to its sector peers. The announcement of an $18 price target further indicates a bullish outlook on the stock, likely leading to increased investor interest and potentially higher stock prices in the short term.
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IMPORTANCE 90
RELEVANCE 100