Jefferies Raises Estimates/PT on Regal Beloit (RBC) After Q4 Results

Jefferies raised its estimates and price target on Regal Beloit (NYSE: RBC) from $68 to $72 following Q4 results.

The firm comments, "4Q11 EPS from ops were +44%. Op income was in line; previously we assumed it was above our forecast, but then a LIFO benefit was noted on the call (not in Presser). 4Q11 EPS were better than expected from non-op items. But 1Q12 guidance was above expectations, a surprise given HVAC mix pressures. RBC is beginning to show it has 3 legs to its earnings stool: C&I, HVAC and now acquisition accretion."

The firm raised FY12 EPS from $4.80 to $5.08 and FY13 from $5.84 to $6.00.

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 $66.00 yesterday.

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