TD Cowen analyst Joseph C Giordano maintained a Buy rating on Ralliant Corporation today and set a price target of $64.00.
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Joseph C Giordano has given his Buy rating due to a combination of factors that indicate a positive outlook for Ralliant Corporation. Despite the initial noise typical of a company’s first public quarter, the core results and future projections aligned with expectations, and key risks such as the potential lack of quarter-over-quarter growth in T&M and insufficient margin recovery did not occur. This stability, coupled with the recovery of 40% of the company’s exposure base from deep trough levels, suggests a promising trajectory.
Furthermore, the company’s core segments, particularly in Sensors & Safety, are well-positioned for sustained growth over several years. As T&M revenues rebound and cost efficiencies are realized following the spin-off, there is a significant opportunity for margin expansion. The current trading price, at just over 11 times forward EBITDA, is undervalued compared to peers, indicating potential for share price appreciation. These factors collectively support Giordano’s Buy rating for Ralliant Corporation.
In another report released on August 13, Barclays also maintained a Buy rating on the stock with a $59.00 price target.