KeyBanc lowered the firm’s price target on Gates Industrial (GTES) to $21 from $27 and keeps an Overweight rating on the shares. Although companies across the Industrial universe took different approaches to the tariff impacts on guidance and the firm previously felt outlooks generally embedded some prudent conservatism, Liberation Day tariffs proved to be much more meaningful than anticipated and have created significant uncertainty for capital investment near-term. As such, KeyBanc sees risk to both the top- and margin-line updates on a go-forward basis.
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Read More on GTES:
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- Gates Industrial price target lowered to $26 from $27 at Barclays
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