Ralliant price target raised to $50 from $42 at BofA

BofA raised the firm’s price target on Ralliant (RAL) to $50 from $42 and keeps an Underperform rating on the shares. “Solid” Q1 results and a guidance raise helped spark a relief rally in shares, notes the analyst, who thinks a pivot to returning cash to shareholders is “favorable.” However, the firm reiterates an Underperform rating as the core business continues to remain under pressure and will “likely struggle to generate growth,” the analyst tells investors.