SunTrust analyst Michael Ciarmoli raised his price target on RBC Bearings (ROLL) to $140 in spite of its Q4 earnings miss, citing the strength in its industrial end market coupled with "only modest quarterly revenue headwinds" related to Boeing's (BA) 737 MAX production delays. The analyst still keeps his Hold rating on RBC Bearings to reflect the "fluid" 737 MAX situation, but believes that the company's "best-in-class model" may "act as an offset" to that uncertainty.
Check out this morning's top movers from around Wall Street, compiled by The Fly. UP AFTER EARNINGS... To see the rest of the story go to thefly.com. See Story Here
Reports Q1 revenue $16.6B, consensus $15.22B. "Our first quarter results reflect the immediate actions we've taken to slow down 737 production to drive improvements in quality," said Dave Calhoun, Boeing president and CEO. "We will take the time necessary to strengthen our quality and safety management systems and this work will position us for a stronger and more stable future."
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
Boeing (BA) is expected to report results on its fiscal first quarter on Wednesday, April 24, with a conference call scheduled for 10:30 am EDT. What to watch... To see the rest of the story go to thefly.com. See Story Here
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here