UPDATE: Seaport Global Securities Upgrades Regal Beloit (RBC) to Buy Citing Increased Model Estimates

(updated to add analyst comment)

Seaport Global Securities upgraded Regal Beloit (NYSE: RBC) from Neutral to Buy with a price target of $88.00 (from $82.00).

Analyst Walk Liptak comments "RBC's 2018 outlook improved due to expectations that the price/cost situation will improve. Rising copper and steel prices negatively impacted the 2017 operating leverage due to the timing of price increases. During 2018, we believe that a selling price increase will result in positive operating leverage. RBC has self-help programs including a C&I simplification project that should result in incremental profit improvements. We are increasing our 2018 and 2019 EPS estimates due to positive revenue trends, the expectation for improving selling prices, more favorable currency translation and lower US corporate tax rates (adds ~$0.25 per share)."

For an analyst ratings summary and ratings history on Regal Beloit click here. For more ratings news on Regal Beloit click here.

Shares of Regal Beloit closed at $73.70 yesterday.

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