Bank of America Securities Remains a Buy on RBC Bearings (RBC)
Bank of America Securities analyst Ronald Epstein maintained a Buy rating on RBC Bearings yesterday and set a price target of $650.00. The company’s shares closed yesterday at $562.54.
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According to TipRanks, Epstein is a top 100 analyst with an average return of 21.8% and a 69.17% success rate. Epstein covers the Industrials sector, focusing on stocks such as L3Harris Technologies, Aercap Holdings, and Boeing.
Currently, the analyst consensus on RBC Bearings is a Strong Buy with an average price target of $586.20, which is a 4.21% upside from current levels. In a report released on February 13, Morgan Stanley also maintained a Buy rating on the stock with a $600.00 price target.
Based on RBC Bearings’ latest earnings release for the quarter ending December 27, the company reported a quarterly revenue of $461.6 million and a net profit of $67.4 million. In comparison, last year the company earned a revenue of $394.4 million and had a net profit of $57.9 million
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