There’s a lot to be optimistic about in the Conglomerates sector as 2 analysts just weighed in on Regal Beloit (NYSE:RBC) and Manitowoc Company (NYSE:MTW) with bullish sentiments.
Regal Beloit (RBC)
Seaport Global analyst Walter Liptak reiterated a Buy rating on Regal Beloit yesterday and set a price target of $95. The company’s shares closed yesterday at $82.05.
According to TipRanks.com, Liptak is a 4-star analyst with an average return of 10.6% and a 64.8% success rate. Liptak covers the Industrial Goods sector, focusing on stocks such as Watts Water Technologies, John Bean Technologies, and Franklin Electric Co.
Currently, the analyst consensus on Regal Beloit is a Moderate Buy with an average price target of $91.20, representing an 11.2% upside. In a report released yesterday, Oppenheimer also assigned a Buy rating to the stock with a $95 price target.
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Manitowoc Company (MTW)
In a report released today, Michael Shlisky from Seaport Global reiterated a Buy rating on Manitowoc Company, with a price target of $31. The company’s shares closed yesterday at $24.36, close to its 52-week low of $22.99.
According to TipRanks.com, Shlisky is ranked #2030 out of 4850 analysts.
Currently, the analyst consensus on Manitowoc Company is a Moderate Buy with an average price target of $30.86.
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