On July 1, Regal Rexnord rose 5.38% in pre-market trading, trading at $251.0/share, with turnover of $2.80 million. The rally was driven by two concurrent catalysts: the official appointment of new CEO Aamir Paul and bullish investment bank coverage.
Aamir Paul, formerly president of North America at Schneider Electric, officially assumed the CEO role today following a succession search launched in October. Former CEO Louis Pinkham resigned from the board upon completing the transition. Separately, DA Davidson initiated coverage in mid-June with a Buy rating and a $260 price target, while the analyst consensus target stands at $252.40, both above the current trading level.
Fundamentally, the company reported Q1 adjusted EPS of $2.17, beating the $2.11 estimate, with revenue of $1.48 billion versus $1.43 billion expected. It also secured approximately $735 million in data center orders last quarter and guided full-year adjusted EPS of $10.20 to $11.00, supporting confidence in growth momentum under new leadership.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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