BofA Securities Downgrades RBC Bearings (RBC) to Neutral

BofA Securities analyst Ronald Epstein downgraded RBC Bearings (NYSE: RBC) from Buy to Neutral with a price target of $335.00 (from $330.00).

The analyst comments "We continue to see RBC as a quality business, but see little incremental upside to the existing growth outlook. Concerns around macro conditions in key end markets could negatively impact the stock’s risk/reward profile. Long lead times and uncertainty in channel composition raise near term concerns on demand. While M&A and operational improvements continue to be foundational for growth, we view the space as highly competitive and question the quantity of opportunities at reasonable valuations in the near term. We downgrade to Neutral from Buy, and raise our PO to $335 from $330."

For an analyst ratings summary and ratings history on RBC Bearings click here. For more ratings news on RBC Bearings click here.

Shares of RBC Bearings closed at $324.46 yesterday.

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