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Thursday, May 2
Regal Beloit (RBC +2.7%) moves higher as KeyBanc (Buy) and Global Hunter Securities (Buy) both...
Regal Beloit (RBC +2.7%) moves higher as KeyBanc (Buy) and Global Hunter Securities (Buy) both upgrade the shares. Trading at 5.9x EV/EBITDA following yesterday's post-earnings malaise, the shares "represent a compelling entry point," KeyBanc analyst Jeffrey Hammond says. "It seems like most other industrial companies [see improvement] and you seem to be indicating otherwise," Hammond notes on the call. "What we're seeing, our competitors are seeing," says CEO Mark Gliebe. Anyone saying different only competes "in and around the industrial space," as opposed to directly in it, Gliebe adds. (transcript)