Wells Fargo analyst Jerry Revich initiated coverage of Gates Industrial (GTES) with an Equal Weight rating and $23 price target Due to slow growth backdrop, the firm also prefers the construction machinery stocks over engineering Services due to a favorable supply setup in machinery. Wells initiated 22 stocks in the machinery, industrials and environmental services group with Cummins (CMI), Herc Holdings (HRI) and WM (WM) top picks.
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Read More on GTES:
- Gates Industrial initiated with an Equal Weight at Wells Fargo
- Gates Industrial price target lowered to $29 from $30 at UBS
- Gates Industrial price target lowered to $26 from $28 at Barclays
- Gates Industrial price target lowered to $26 from $29 at RBC Capital
- Gates Industrial price target lowered to $33 from $35 at JPMorgan