RBC Capital lowered the firm’s price target on Gates Industrial (GTES) to $26 from $29 and keeps an Outperform rating on the shares. The company’s Q3 results and guidance were mostly uneventful as the macro continues to be subdued/stable, with the weakest end markets being ag and commercial trucks, the analyst tells investors in a research note.
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Read More on GTES:
- Gates Industrial price target lowered to $33 from $35 at JPMorgan
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- Gates Industrial reports Q3 adjusted EPS 39c, consensus 37c