JPMorgan initiated coverage of Gates Industrial (GTES) with an Overweight rating and $35 price target offering 39% upside potential. The firm has confidence in the company’s ability to convert its legacy in engineered power transmission into a stronger, resilient platform. Gates is evolving from a industrial supplier to a growth compounder by leveraging secular trends in mobility and data center infrastructure, the analyst tells investors in a research note.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GTES:
- Gates Industrial’s Strategic Shift and Growth Potential: Analyst Recommends with $35 Price Target by 2026
- Gates Industrial price target raised to $27 from $23 at Evercore ISI
- Gates Industrial price target raised to $28 from $26 at Barclays
- Gates Industrial price target raised to $34 from $27 at Baird
- Gates Industrial price target raised to $30 from $26 at KeyBanc