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Goldman Sachs has decided to maintain its Neutral rating of Gates Industrial Corp (NYSE:GTES) and raise its price target from $14.00 to $16.00.
Shares of Gates Industrial Corp are trading up 0.0% over the last 24 hours, at $16.47 per share.
A move to $16.00 would account for a 2.85% decrease from the current share price.
Gates Industrial Corp PLC is a manufacturer of engineered power transmission and fluid power solutions. The company has two operating segments; Power Transmission and Fluid Power segments. The Power Transmission solutions convey power and control motion. It is used in applications in which belts, chains, cables, geared transmissions, or direct drives transfer power from an engine or motor to another part or system. The Fluid power solutions are used in applications in which hoses and rigid tubing assemblies either transfer power hydraulically or convey fluids, gases, or granular materials from one location to another. The company generates key revenue from the Power Transmission segment.
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Posted In: GTES
