- Citi analyst Timothy Thein initiated RBC Bearings Inc ROLL with a Neutral rating and a price target of $220, implying an upside of 11.29%.
- The analyst sees a "lot to like" about the Dodge acquisition but says integration could be difficult amid supply chain challenges.
- He believes RBC's current valuation leaves little room for error.
- RBC Bearings announced the Dodge acquisition in July. The company agreed to acquire DODGE mechanical power transmission division for $2.9 billion in cash.
- A fully committed bridge facility supports the acquisition, and financing includes an appropriate mix of debt and equity. The transaction is expected to close in 4Q21.
- Price Action: ROLL shares closed lower by 1.45% at $197.69 on Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
