Stock analysts at Credit Suisse Group initiated coverage on shares of Gates Industrial (NYSE:GTES) in a report released on Tuesday, February 20th, Marketbeat.com reports. The firm set an “outperform” rating and a $21.00 price target on the stock. Credit Suisse Group’s target price suggests a potential upside of 16.60% from the stock’s previous close.
GTES has been the topic of several other reports. Goldman Sachs Group initiated coverage on Gates Industrial in a research report on Monday, February 19th. They set a “neutral” rating and a $21.00 price target on the stock. UBS Group began coverage on shares of Gates Industrial in a research report on Tuesday, February 20th. They issued a “buy” rating and a $22.00 price objective on the stock. Citigroup assumed coverage on shares of Gates Industrial in a research report on Tuesday, February 20th. They issued a “buy” rating and a $23.00 price objective on the stock. Finally, KeyCorp assumed coverage on Gates Industrial in a research note on Tuesday, February 20th. They issued an “overweight” rating and a $22.00 target price for the company. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $22.14.
Gates Industrial (GTES) traded up $0.06 during midday trading on Tuesday, reaching $18.01. 2,192,760 shares of the company traded hands, compared to its average volume of 826,884. Gates Industrial has a twelve month low of $16.60 and a twelve month high of $20.00. The firm has a market cap of $5,110.00 and a P/E ratio of 150.08.
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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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