KeyBanc raised the firm’s price target on Gates Industrial (GTES) to $30 from $26 and keeps an Overweight rating on the shares. Following the company’s Q2 earnings release and conference call, the firm walked away impressed by the strong execution amid choppy end market trends as the company makes encouraging progress on positioning itself for long-term outgrowth. Looking out, KeyBanc walked away with incremental conviction in its long-term thesis given the further confirmation of bottoming end market trends and ample/growing attractive long-term growth/margin opportunities.
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Read More on GTES:
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