Fly News Breaks for November 14, 2019
Nov 14, 2019 | 07:09 EDT
As previously reported, BofA Merrill Lynch analyst Kristine Liwag downgraded RBC Bearings to Underperform from Neutral with a $165 price target. While Aerospace continues to be a driver of growth, incremental weakness in its Diversified Industrials business provides some near- and medium-term headwinds, Liwag tells investors. The analyst, who lowered her EPS estimates in FY20 and the outyears, additionally cites valuation, noting that the stock is trading close to a peak valuation on a P/E basis.
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