Applied Industrial Technologies price target lowered to $250 from $265 at Raymond James

Raymond James lowered the firm’s price target on Applied Industrial Technologies (AIT) to $250 from $265 and keeps an Outperform rating on the shares. Near-term guidance was trimmed on macro uncertainty, but AIT is well positioned to defend itself, and likely benefit, from tariffs due to limited exposure to direct international sourcing and the goal of passing through pricing rate-for-rate, the analyst tells investors in a research note.