UBS Group Initiates Coverage on Gates Industrial (GTES)
UBS Group began coverage on shares of Gates Industrial (NYSE:GTES) in a report issued on Tuesday morning, 99wallstreet.com reports. The firm issued a buy rating and a $22.00 price target on the stock.
Several other equities research analysts also recently issued reports on the company. Goldman Sachs Group initiated coverage on Gates Industrial in a report on Monday. They issued a neutral rating and a $21.00 price target for the company. KeyCorp initiated coverage on Gates Industrial in a report on Tuesday. They issued an overweight rating and a $22.00 price target for the company. Finally, Citigroup initiated coverage on Gates Industrial in a report on Tuesday. They issued a buy rating and a $23.00 price target for the company. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $22.14.
Shares of Gates Industrial (NYSE:GTES) opened at $17.64 on Tuesday. Gates Industrial has a fifty-two week low of $17.50 and a fifty-two week high of $20.00.
Gates Industrial Company Profile
Gates Industrial Corporation PLC designs and manufactures power transmission equipment. Its products serves harsh and hazardous industries such as agriculture, construction, manufacturing and energy, to everyday consumer applications such as printers, power washers, automatic doors and vacuum cleaners and virtually every form of transportation.
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