Helios Technologies upgraded to Overweight from Sector Weight at KeyBanc

KeyBanc upgraded Helios Technologies (HLIO) to Overweight from Sector Weight with a $40 price target The firm’s recent industrial conference gave it greater confidence that short-cycle trends “have hit a trough.” The analyst sees an “emerging self-help story” at Helios supporting a share re-rating independent of a cycle inflection. While margin headwinds from excess capacity will likely linger near-term, KeyBanc is “encouraged” by the recently appointed CEO Sean Bagan’s messaging at the conference around refocusing the go-to-market approach and taking a more rigorous approach to evaluating the portfolio, the analyst tells investors in a research note.