Goldman Sachs Starts Rexnord (RXN) at Neutral; Attractive Industrial Growth
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Price: $18.01 +0.11%
Rating Summary:
2 Buy, 5 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
2 Buy, 5 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade RXN Now!
Goldman Sachs initiates coverage on Rexnord (NYSE: RXN) with a Neutral. PT $24.00.
Analyst, Terry Darling, said, "RXN has leading positions in Process & Motion Control (65% sales) and Water Management (35%), with #1-2 positions in 85% of sales, with high recurring revenue, consistent free cash and attractive late cycle exposure. Management has a demonstrated track record of adding value via both systematic operational improvement and acquisitions, and identified M&A capacity of c.$200mn p.a. over the next 2 years. Valuation drives our Neutral rating after recent outperformance (+20% since IPO vs. S&P 500 flat)."
For an analyst ratings summary and ratings history on Rexnord click here. For more ratings news on Rexnord click here.
Shares of Rexnord closed at $22.02 yesterday, with a 52 week range of $19.00-$22.83.
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Analyst, Terry Darling, said, "RXN has leading positions in Process & Motion Control (65% sales) and Water Management (35%), with #1-2 positions in 85% of sales, with high recurring revenue, consistent free cash and attractive late cycle exposure. Management has a demonstrated track record of adding value via both systematic operational improvement and acquisitions, and identified M&A capacity of c.$200mn p.a. over the next 2 years. Valuation drives our Neutral rating after recent outperformance (+20% since IPO vs. S&P 500 flat)."
For an analyst ratings summary and ratings history on Rexnord click here. For more ratings news on Rexnord click here.
Shares of Rexnord closed at $22.02 yesterday, with a 52 week range of $19.00-$22.83.
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