Rexnord Reaches Analyst Target Price
August 24, 2016 at 07:38 AM EDT
In recent trading, shares of Rexnord Corp (RXN) have crossed above the average analyst 12-month target price of $22.00, changing hands for $22.26/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation, or, re-adjust their target price to a higher level..